Yogesh K Porwar
An 80-year-old advocate from Devanahalli was allegedly cheated of ₹40,260 in an online investment fraud after fraudsters reportedly used the name of Union Finance Minister Nirmala Sitharaman on social media to lure investors with promises of high returns in the share market.
According to a complaint filed at the Devanahalli Police Station on Monday,the victim,a resident of Kuvempu Layout in Avathi,Devanahalli Taluk,Bengaluru Rural district,has been practising as an advocate through the Devanahalli Lawyers’Association.
In his complaint,he stated that he came across social media content claiming that investments in the stock market would generate substantial profits in March this year .
Trusting the claims,he transferred a total of ₹40,260 in multiple transactions on March 26,2026,from his SBI savings account.
Police said the complainant later realised he may have been cheated and contacted the national cybercrime helpline 1930 to report the incident.
The victim has submitted copies of the UTR transaction details and sought police assistance to recover the lost amount.
“There are plenty of such cases where people are lured through social media using the names of Union ministers and public figures,”victim told reporters.
He specifically referred to the misuse of the names of Rajya Sabha MP Sudha Murty and other prominent personalities in online investment promotions.
Police have registered a case and further investigation is under progress.
