In a shocking incident, a Mumbai-based doctor was swindled out of Rs 7 lakh by fraudsters who used a deepfake video of industrialist Mukesh Ambani to promote a fake share trading academy. Dr. KH Patil, a 54-year-old Ayurveda practitioner from Andheri, fell victim to the scam after encountering the deceptive video on Instagram.Dr. Patil discovered the deepfake video on April 15 while browsing her Instagram feed. The video portrayed Ambani endorsing a trading academy named Rajiv Sharma Trade Group, encouraging viewers to join BCF Academy for high investment returns. Convinced by the apparent legitimacy of the endorsement, Dr. Patil investigated the group online, finding purported offices in London and Mumbais Bandra Kurla Complex, which bolstered her trust.Investment and DeceptionBelieving the endorsement to be authentic, Dr. Patil contacted the academy online and invested Rs 7.1 lakh between May and June. She was given access to an account where her investments showed a rapid profit increase to over Rs 30 lakh. However, when she attempted to withdraw these profits earlier this month, her efforts were unsuccessful. Realising she had been scammed, Dr. Patil sought advice from friends who urged her to report the incident to the police.The Oshiwara Police in Andheri have registered a case against unidentified individuals and are investigating 16 bank accounts where Dr. Patils money was transferred. Police officials are liaising with banks to gather further details.Growing Trend of Cyber ScamsThis incident is not isolated. There have been previous scams involving deepfake videos of Mukesh Ambani promoting fraudulent trading education programs. Cybercriminals have increasingly exploited social media platforms such as X (formerly Twitter), Facebook, and Instagram to lure unsuspecting investors. A similar scam surfaced following the pre-wedding function of Anant Ambani, where scammers used images from the event to direct people to bogus investment platforms.Authorities have issued a public warning, urging individuals to verify the authenticity of investment opportunities in person and not rely solely on online information. They highlighted the growing use of deepfake videos of well-known personalities by cyber fraudsters to deceive the public.
