• Source:JND
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A man from Mangaluru has become a victim twice over - once to a sophisticated online trading scam and a second time to deepfake technology. Over a few months, he lost more than ₹22.5 Lakh. The fraud commenced with a Facebook video that falsely featured Union Finance Minister Nirmala Sitharaman. The victim was manipulated into transferring money under the guise of investment, tax, and penalty payments. The case underlines the creeping danger of deepfake videos and impersonation techniques used by fraudsters these days.

How the Online Scam Began

The victim's nightmare began on October 15, 2024. On that day, he encountered a Facebook video that seemed to showcase Finance Minister Nirmala Sitharaman supporting an online trading platform. He believed the video, and so he registered on the platform through the link that was provided in the video.

Shortly after that, the victim was contacted by an impersonating “Anurag Sharma.” After identifying himself, he instructed the victim to pay a sum of ₹12,600 as an “initial payment.” To the victim’s misfortune, this was the start of a series of transactions that drained him financially.

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Multiple Scammers, False Promises

Within the next couple of weeks, the victim started receiving calls from people claiming to be trading agents or investment advisors, including:

  • Nikhil Agarwal
  • Thomas George
  • Jetting Navya
  • Naveen Tiwari

All of them tried to convince him to invest additional funds, assuring him substantial returns, bonus payments, and entitlement to a “premium investor program”. The scam continued to advance, and now there were more tactics to pressure him to add more money or pay fines for small mistakes like wrong IFSC codes.

The Scare Tactics and Impersonation Game

The Scare Tactics and Impersonation Game. The victim is told that at some point, 60,000 rupees were taken and routed through forex. Unless an additional amount is paid, he is going to be charged for money laundering.

To maintain credibility and escalate the fear, the scammers:

  • Impersonated managers of reputed Indian banks
  • Used international phone numbers
  • Sent fake legal warnings to intimidate the victim

The victim continued to pay money, all the while hoping to pay some amount to clear legal issues.

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Transactions and Total Loss

From October 2024 to March 2025, the victim executed numerous transactions, with each transfer amounting to anywhere between ₹28,400 to ₹2 lakh. The payments were categorised as:

  • Tax charges
  • Penalties
  • Platform maintenance fees
  • Investment top-ups

His total loss was ₹22,59,613 with no return, refund, or credible help from the so-called advisors.

Police Complaint and Investigation

After months of broken promises coupled with mounting financial losses, the man finally discovered the extent of the scam. He went to the Kankanady Town Police Station in Mangaluru and filed the complaint. The police took the case and started investigating the fraud, which seems to be a multi-layered scam involving numerous scammers, fictitious digital personas, and bank accounts in multiple states.

Final Thoughts

Such a case serves as a wake-up call and a reminder of how misinformation and deepfake content can be easily utilised to deceive and manipulate a person. One should always check the credibility of the advertised investment opportunities, especially those that give endorsements from public figures. If it sounds too good to be true, it probably is. Exercise caution because transferring money based on social media advertisements or unsolicited calls is a bad idea.