A 63-year-old man in Keralam lost Rs 1.41 crore after clicking a Facebook link accompanying a fake video of Finance Minister Nirmala Sitharaman promoting online trading. He made 30 transfers from two bank accounts between June 2025 and November 2026.
A 63-year-old man from Kerala's Kozhikode district has allegedly lost Rs 1.41 crore after investing in a fraudulent trading platform promoted through a fake video featuring Union Finance Minister Nirmala Sitharaman. Police said the Facebook video promised attractive online trading returns. The Kozhikode Rural Cyber Crime Police registered a case on Saturday, November 14, following a complaint by Abdurahiman P of Nochad in Naduvannur. The alleged fraud took place between June 6, 2025, and November 4, 2026.
Fake video led victim to trading link
Police said the man believed the video was genuine, clicked on the accompanying link and followed the instructions given by the fraudsters.
He transferred Rs 1.41 crore in 30 transactions from two bank accounts to several accounts operated by the accused. Neither the promised returns nor his investment was returned, prompting him to approach the police.
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The complainant delayed reporting the matter because he expected to recover the money, police said. The accused have not been identified. Investigators are examining recipient bank accounts and phone calls received by the complainant to trace those involved.
A case has been registered under Section 318(4) of the Bharatiya Nyaya Sanhita, which deals with cheating and dishonestly inducing delivery of property, and Section 66D of the Information Technology Act, covering cheating by personation using a computer resource or communication device.
No arrests or recovery of the money have been announced so far.
How to avoid online investment fraud
Investors should distrust guaranteed or unusually high returns and unsolicited social media offers. Check brokers and trading apps through SEBI’s official website, and never transfer money to unrelated personal accounts.
If cheated, call the 24-hour cyber fraud helpline 1930 immediately, alert your bank and report the incident at cybercrime.gov.in. Save transaction IDs, messages, phone numbers and screenshots.
Quick reporting may help banks and authorities try to hold funds or trace those responsible for the fraud, but recovery is not guaranteed.
(With agency inputs)
