Scammers are using fake ads and AI-generated videos of business leaders to attract investors, police said.
Published Sep 04, 2025 | 8:18 PM ⚊ Updated Sep 04, 2025 | 8:18 PM
Financial fraud (Creative Commons)
Synopsis: Kerala Police warned of a major online fraud using fake CAPITALIX platforms and AI-generated videos to lure investors. Victims are added to messaging groups, allowed small withdrawals, then trapped. A pharma industrialist lost ₹24.76 crore. An SIT is investigating, and police urge quick reporting via 1930 or the cybercrime portal to improve chances of fund recovery.
Kerala Police on Thursday, 4 September, cautioned the public against a major online investment fraud being run in the name of CAPITALIX, a popular trading platform.
Scammers are using fake ads and AI-generated videos of business leaders to attract investors, police said.
Victims are added to WhatsApp or Telegram groups and asked to download a fake CAPITALIX app or use fraudulent websites like capitalix./in and trade.capitalix./in.
Initially, small withdrawals are allowed to build trust, but later victims are trapped with blocked accounts and demands for more money.
The fraud has caused heavy losses, including a recent case where a Kerala industrialist lost over ₹24 crore.
Police urged people to report suspicious activity quickly via the 1930 helpline or the cybercrime portal, stressing that filing complaints within an hour improves chances of recovering money.
On Tuesday, 2 September, Kochi city police planned to form an SIT under City Police Commissioner Putta Vimaladitya.
The team was formed to probe the ₹24.76 crore scam targeting the 49 year-old pharma company owner from Ernakulam.
Investigators are expected to gather all transaction records, phone calls, and chat histories with the scammers to trace the funds, which were transferred through a private bank account.
The fraud, spanning 15 March, 2023, to 29 August, 2025, involved a fake stock trading scheme operated under the name ‘Daniel’ via a fraudulent website, www.capitalix./com.
The victim realised the scam when he could not withdraw his money. The case has been registered under sections 318 (4) for cheating and 316 (2) for criminal breach of trust of the BNS.
Police are also examining similar cyber scams, noting that large-scale financial frauds often involve complex money trails or conversion into cryptocurrencies.
(Edited by Sumavarsha, with inputs from Sreelakshmi Soman)
