Kerala man loses Rs 1.41 crore in fake investment video scam
The victim was lured into a fraudulent trading platform by a Facebook video purportedly featuring Union Finance Minister Nirmala Sitharaman.
A 63-year-old resident of Nochad, Naduvannur, lost Rs 1.41 crore after being deceived by a fake video of Union Finance Minister Nirmala Sitharaman, according to Moneycontrol on Sunday.
The victim, Abdurahiman P, reportedly saw a video on Facebook where Sitharaman appeared to promise high returns through online trading. Believing the footage was real, he clicked a link and followed directions provided by the scammers.
The Kozhikode Rural Cyber Crime Police registered a First Information Report (FIR) on Saturday following a complaint by the man.
Between June 6, 2025, and November 4, 2026, the complainant made 30 separate transfers from two bank accounts to various accounts held by the accused. He did not receive any promised returns or his original capital back.
Police stated that the complainant waited to report the matter because he hoped to get his money back. The Cyber Crime Police have filed a case under Section 318(4) of the Bharatiya Nyaya Sanhita and Section 66D of the Information Technology (IT) Act.
The accused individuals have not been identified, but officials said they are attempting to track them using bank transfer details and phone call records.