Pune: A retired Indian Air Force officer (56) from Mundhwa, who became a garment businessman, was cheated of Rs 1.07 crore by cybercrooks in a fake forex and share-trading scam using an AI-generated video of Union Finance Minister Nirmala Sitharaman.The retired officer lodged a complaint with the Pune cyber police. The cheating took place between June and July, the Pune cyber police said.According to the complaint, the retired officer came across an AI-generated video on a social media platform on June 2. In the video, which appeared to falsely feature the Union Finance Minister, viewers were urged to invest in forex trading, claiming that earning profits through such investments would also contribute to India’s development.It displayed two UK-based cellphone numbers for interested investors. The fraudsters persuaded the retired officer to open an account on their investment application. The crooks asked him to buy and sell small quantities in forex and credited Rs 1,000 as the day’s profit to gain his confidence, the complaint stated.The fraudsters, according to the police, later convinced him to invest in the IPO of a private space firm allegedly owned by a prominent US-based businessman. The complainant ended up transferring a total of a little over Rs 1 crore to 36 bank accounts. The fake investment platform subsequently displayed a notional profit of Rs 3.98 crore on the app. However, when the retired officer attempted to sell the shares for profit, the fraudsters prevented him from selling.
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