Believing in a fake video featuring Finance Minister Nirmala Sitharaman, in which high returns were promised for investment in share market, a senior citizen of Belagavi has lost ₹7.39 lakh.
Based on a complaint filed by 76-year-old Prakash Gubbi, a resident of Vantamuri Colony in Belagavi, the police have registered a case against Adarsh of Kolhapur and Damodar of Buldana in Maharashtra.
According to the complaint, the accused contacted Mr. Gubbi over telephone after he clicked on a link for registration after watching a video in which the Finance Minister was portrayed as promising high interests for investment.
After having paid ₹16,500 for activation of the account, Mr. Gubbi was convinced by the accused that he will get high returns for his investment.
And, believing them, Mr. Gubbi transferred a total of ₹7.39 lakh to the bank accounts of the accused in a phased manner.
After the accused failed to produce investment details, Mr. Gubbi got suspicious and demanded a refund. He was then asked to invest additional amount to get profit.
Having realised that he was duped, the victim filed the complaint with the Cyber Police Station of Belagavi. The police have taken up investigation.
Published – May 06, 2026 07:55 pm IST
