Vadodara: A bank manager in Vadodara lost more than Rs 12 lakh after cybercriminals allegedly lured him into a fake investment scheme using a manipulated video featuring the Union finance minister and promises of high returns.
According to the complaint filed by Rakshesh Buch, a resident of Sun Pharma Road, the fraud began in February when he came across a video promoting an investment scheme called Quantum AL. The video directed viewers to a website, where Buch entered his personal details.
Soon after, the fraudsters contacted him and convinced him to make an initial investment of Rs 25,000. They later introduced him to a scheme linked to crude oil, claiming that rising oil prices amid the ongoing war would generate substantial profits.
To gain his confidence, the accused allegedly used multiple identities, including posing as a member of the Saudi royal family. Buch was subsequently persuaded to transfer larger amounts through a mobile application provided by the fraudsters.
When he tried to withdraw his money, the accused allegedly demanded additional payments, prompting him to realise that he had been trapped in a cyber fraud.
Buch eventually transferred more than Rs 12 lakh before approaching the Cyber Crime police. An investigation is underway.
