Pune Senior Defrauded of Rs 41.5 Lakh in Sophisticated AI Video Scam
In a distressing case of cyber fraud, an 82-year-old retired bank employee from Pune has been cheated of Rs 41.5 lakh in an elaborate online share-trading scam. The victim lodged a formal complaint with the Khadak police on Tuesday, detailing how fraudsters exploited AI-generated videos to lure him into the scheme between January and February this year.
AI-Generated Videos Featuring Celebrities Used as Bait
Senior Inspector Shashikant Chavan of Khadak police revealed that the scam began with a fraudulent email sent to the victim. This email contained links to sophisticated AI-generated videos that promoted a fake 'share investment scheme.' The videos were crafted to appear highly convincing, showcasing how the scheme was generating substantial profits for investors.
Notably, these videos allegedly featured well-known political personalities and prominent businessmen investing in the scheme and encouraging others to follow suit. The realistic portrayal of these figures played a crucial role in building the victim's trust.
From Initial Investment to Complete Financial Drain
Convinced by the deceptive videos, the victim contacted the phone number provided in the email. The suspect then directed him to download a mobile application for share-trading. Initially, the victim started with smaller transactions, investing amounts ranging from Rs 19,000 to Rs 40,000 in low-value shares.
As the scam progressed, the suspect contacted the victim again, persuading him to invest in high-value shares with promises of assistance. Trusting the fraudster, the victim agreed and was provided with details of five different bank accounts.
Over a period of 15 to 20 days, the victim transferred sums between Rs 3 lakh and Rs 4 lakh multiple times, eventually depleting his entire life savings. The mobile application displayed seemingly good returns, further misleading him.
The Scam Unravels When Withdrawal is Blocked
The fraud came to light when the victim decided to sell his shares and withdraw his profits. At this point, the suspects demanded an additional Rs 12 lakh to authorize the transaction. This suspicious demand prompted the victim to realize he had been defrauded.
He immediately approached the Khadak police, who have registered a First Information Report (FIR) and launched an investigation into the matter. The case highlights the growing sophistication of online frauds targeting vulnerable individuals, particularly seniors.
Police are urging the public to exercise extreme caution with unsolicited investment offers and to verify the authenticity of any scheme through official channels before committing funds.
