Reported deepfake Nirmala Sitharaman video allegedly dupes Hyderabad woman of Rs 71.84 lakh
According to a report, a 56-year-old woman in Hyderabad was allegedly defrauded of over Rs 71.84 lakh in an investment scam involving a deepfake video of Union Finance Minister Nirmala Sitharaman. The victim reportedly saw an advertisement on Facebook in May 2026 featuring the deepfake video, leading her to a fake trading website. Scammers then used phone calls and a Telegram group to guide her through fraudulent investments, showing fake profits before demanding 'processing fees' for withdrawals.
A deepfake video of Union Finance Minister Nirmala Sitharaman was reportedly used by online scammers to trick people into an investment scam. In Hyderabad, a 56-year-old woman allegedly lost more than Rs 71.84 lakh after seeing the video and trusting a fake trading website. The victim, a housewife from Saidabad, reported seeing an ad on Facebook in May 2026 that appeared to show Finance Minister Nirmala Sitharaman endorsing an investment plan in a deepfake video. Believing it to be real, she clicked on the ad, which led her to a fake website where she provided personal details. Subsequently, she was contacted by someone claiming to be 'Srinivas' who asked her to upload KYC documents. Scammers reportedly added her to a Telegram group and provided multiple phone numbers. One individual, speaking with a foreign accent, allegedly guided her through the process, instructing her to make an initial deposit of approximately 197 US dollars using her credit card. Another person, identified as 'Balaji Account Manager from BXB Market,' reportedly sent her a link to the fake platform and demonstrated how to 'trade.' After a few days, the fake site allegedly displayed profits, and she was able to withdraw 10 US dollars, which reportedly convinced her of the platform's legitimacy. Following these events, she continued to send money via credit cards and RTGS transfers. The scammers allegedly promised to convert her money to US dollars and deposit it into her trading account. The fake website subsequently showed bogus profits of about Rs 9.85 crores. When she attempted to withdraw the money, the scammers reportedly demanded additional 'processing fees.' Between May 6 and July 27, 2026, she allegedly sent approximately Rs 71.84 lakh through RTGS and credit card payments. However, the scammers reportedly continued to request further payments to release the funds shown in her account, at which point she realized it was a scam. The scammers reportedly used various phone numbers and bank accounts, including those in the names of Amit Kumar, Tirupathi Enterprises, and Secretary Mankara Service Cooperative, to receive the money. Police have reportedly registered a case and are investigating the incident. The public is being warned to exercise caution with online investment advertisements, particularly those featuring deepfake or AI videos of public figures, and to verify trading websites before investing.