A 63-year-old man lost Rs 1.41 crore after investing in a fraudulent online trading platform promoted through a fake video of Union Finance Minister Nirmala Sitharaman, police said in Kozhikode on Sunday.
The Kozhikode Rural Cyber Crime Police registered an FIR on Saturday based on a complaint lodged by Abdurahiman P, a resident of Nochad in Naduvannur.
According to the police, the complainant came across a fake video of Sitharaman on Facebook promising attractive returns through online trading.
Believing the video to be genuine, he clicked on a link provided alongside it and followed the fraudsters' instructions, police said.
The alleged fraud took place between June 6, 2025, and November 4, 2026, during which the victim transferred a total of Rs 1.41 crore in 30 transactions from his two bank accounts to various bank accounts operated by the accused, officials said.
However, neither the promised returns nor the invested amount was returned, following which he approached the police, officials said.
The complainant delayed reporting the incident as he expected to recover the lost money, police said.
The Cyber Crime Police registered a case under Section 318(4) of the Bharatiya Nyaya Sanhita and Section 66D of the Information Technology Act. The accused have not been identified.
Police said attempts are on to track the accused persons based on money transferred to various accounts and phone calls received by the complainant.
(With inputs from PTI)
