71-year-old Doctor loses Rs 20 Lakh in AI-Driven Investment Scam

Hyderabad: In a disturbing case of cyber fraud, a 71-year-old retired doctor from Hyderabad lost over ₹20 lakh after falling prey to an elaborate online investment scam involving an AI-generated video impersonating Union Finance Minister Nirmala Sitharaman. 

The scam occurred on March 27, when the victim encountered an online advertisement featuring what appeared to be a promotional video of the Finance Minister endorsing a high-return investment opportunity. The video, powered by artificial intelligence, was fabricated to mimic Sitharaman’s appearance and voice convincingly. The ad included a hyperlink that redirected viewers to a trading website.

Upon clicking the link, the retired doctor was contacted via WhatsApp by a person using a UK-based phone number. The caller claimed to represent a company called Fin Bridge Capital and requested her personal documents — including her Aadhaar card, PAN card, and bank details — for registration purposes.

Also Read: Thane doctor duped of Rs 3.47 crore- Here's what happened

According to the Hindu, the victim was then introduced to another individual posing as a financial advisor, who encouraged her to begin with a modest investment of ₹20,000. She was soon shown fabricated profits calculated in dollars, which persuaded her to make further deposits. Trusting the scheme, the doctor continued investing until her total contribution reached ₹20,13,305.

The scammers claimed her account had earned $79,850, which was supposedly stored on a platform named ‘Bitcoin Block.’ However, when she attempted to withdraw the funds, she was told to pay various fees and charges. It was only after repeated delays and demands for more money that she realized she had been conned.

Following her complaint, the Hyderabad Cyber Crime Wing registered a case and has begun a probe to track down those responsible.

Also Read: 82-year-old doctor loses Rs 1.2 crore to digital arrest fraud

Medical Dialogues had previously reported that by falsely threatening to arrest him in person and claiming he was being digitally arrested, two scammers posing as fake CBI officials managed to trap the 82-year-old doctor from Tiruvarur district, who ended up losing Rs 1.19 crore.