A 68-year-old resident of Santoshnagar lost ₹14.35 lakh to fraudsters who used Finance Minister Nirmala Sitharaman’s photograph in a fake advertisement.
According to police, the victim came across a Facebook advertisement in June 2025, which promised high returns through investments in metal trading. After clicking the link, he received WhatsApp calls from a man claiming to be an employee of a U.K.-based company, Quantum AI.
Convinced by the fraudster’s assurances, the man initially invested ₹12,600 and was later persuaded to transfer larger sums through Google Pay and RTGS to multiple accounts.
Another caller, posing as ‘Niya Sharma’ from the company’s finance department, told him that his profits had grown to ₹36 lakh but insisted that he first pay ₹8.2 lakh as “income tax” to release the amount. When he refused, the fraudsters even sent him a fake passport to win his confidence. Eventually, the victim realised he had been cheated of ₹14,35,461.
Following a complaint, the cyber crime wing of the Hyderabad police booked a case and initiated investigation.
Police said fraudsters are increasingly misusing the photos of ministers and public figures to promote bogus investment schemes on social media. Citizens have been advised not to trust unknown advertisements, links or WhatsApp calls related to investments. They stressed that all investment opportunities should be verified only through official government sources or registered financial institutions.
Citizens who fall victim to financial fraud are urged to call the 1930 helpline or report the matter at www.cybercrime.gov.in. For emergencies, cyber frauds can also be reported via WhatsApp on 8712665171.
Published – September 16, 2025 06:43 pm IST
