Fraudsters use Mukesh Ambani's deep fake video to dupe Mumbai doctor of ₹7 lakh.
A Mumbai-based doctor lost over ₹7 lakh in a share market scam involving a deepfake video of Mukesh Ambani promoting a bogus trading academy.
A doctor from Mumbai fell victim to a 'share market scam' and allegedly lost over ₹7 lakh to fraudsters who used a deepfake video of billionaire businessman Mukesh Ambani to promote a fraudulent share trading academy. The Mumbai Police have registered a case under Sections 419 and 420 of the Indian Penal Code (IPC) and Section 66(D) of the IT Act.
The police stated, "A case has been registered under Sections 419, 420 of the IPC and Section 66(D) of the IT Act after a 54-year-old doctor lost over ₹7 lakh in a 'share market scam' between April 15-17. The doctor claims she saw a deepfake video of industrialist Mukesh Ambani on Instagram promoting investment and was influenced by it."
The woman further alleged that she was "added to a WhatsApp group through a link, promised profits, made to download an app, and instructed to deposit money in various accounts."
According to reports, the doctor first encountered the deepfake video on April 15 while scrolling through Instagram. The video promoted a trading academy called 'Rajiv Sharma Trade Group' and encouraged joining the 'BCF Academy' for high investment returns, as per her complaint.
Believing the endorsement to be genuine, she searched online and found that the academy purportedly had offices in London and at the Bandra Kurla Complex in Mumbai, which further convinced her of its legitimacy.
Subsequently, the doctor contacted the academy online and invested a total of ₹7.1 lakh between May and June, according to India Today.
She was given an account to monitor her investments, which reportedly showed a profit of over ₹30 lakh. However, when she attempted to withdraw the profits, her attempts repeatedly failed. Realizing she had been duped, the doctor consulted her friends, who advised her to approach the police.
The Oshiwara Police have registered the case against unidentified individuals and are currently investigating 16 bank accounts to which the doctor transferred money.
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