KOCHI: The police have launched an investigation after Mumbai-based financial giant Aditya Birla Money Limited filed a complaint about cyber fraudsters impersonating the company and defrauding several individuals through fake share trading apps. Recently, a retired Kerala High Court judge had lost Rs 90 lakh by investing in a fraudulent trading platform using the name ‘Adithya Birla’.
The complaint was filed on Tuesday, prompting the Kochi Cyber Police to open a case. According to the police, the fraudsters had forged the company’s logo, letterhead, and seal to carry out the scam.
“The fraudsters used the company’s emblem and forged documents to deceive the public, harming the company’s reputation. They also created a WhatsApp group with a picture of the company’s independent director to make people believe they were investing with the legitimate firm,” a police officer said.
Police revealed that similar frauds, using Aditya Birla Money’s name, began surfacing in September 2024. Multiple cases of deception, including the one involving the judge, have been reported in Kochi alone. “The fraudsters often exploit the names and logos of prominent national and international businesses to deceive people. We are also investigating a case where a UK-based company’s name was misused in a similar share trading scam. Awareness is crucial to preventing these fraudulent activities,” the officer added.
The police have filed charges under various sections of the BNS, including 318(4) for cheating and inducing someone to deliver property, 336(3) for forgery, and 340(2) for using forged documents as genuine. In addition, sections of the IT Act (66C and 66D) related to identity theft and impersonation using computer resources, as well as section 63 of the Copyright Act for infringement of copyright, have also been invoked.
Authorities are also gathering information about people misled into contacting the fraudulent firm.