In November 2024 a group of Telegram channels began operating under the name of CA Rachana Ranade. The channels used her photographs, copied profile details and posted staged profit screenshots. Within days some channels had thousands of subscribers, and at least one reached more than 4,500 members before payments were taken and the administrators disappeared.
The fraudulent plan was simple but effective in making investors gullible. Initial posts showed small, convincing gains. Comments and fabricated testimonials supplied social proof. Members were invited into paid “premium” groups or urged to install trading portals that displayed simulated returns. When investors tried to withdraw, access was blocked and the promised payouts never materialised. The impersonators relied on quick payments through UPI and similar rails to move money fast.
The tactic keeps changing. Fraudsters now add cloned advertisements, counterfeit corporate document and manipulated video clips generated with AI to strengthen the illusion of legitimacy. Deepfake material has been used to impersonate industry figures and to amplify trust in these sham operations.
Surprisingly, the list of victims does not just include first-time investors but also experienced investors, as per media reports. These indicate that even professionals have been caught because the frauds mimic professional language and present apparently credible interfaces. The common mistake is skipping verification. Simply adding an extra step of confirming a source would have prevented many of these losses.
Practical checks investors must perform before responding to any such invite
- Verify the source. Check the influencer’s verified accounts and official website. If a message arrives via a private link or unverified channel treat it as suspect.
- Avoid transactions through WhatsApp or Telegram groups. Legitimate firms do not solicit investments through ad hoc messaging groups.
- Reject guaranteed returns. Any promise of fixed, outsized gains is a red flag. Regulated investments do not offer such assurances.
- Scrutinise digital details. Inspect domain names, security certificates and corporate disclosures. Small discrepancies often reveal clones.
- Report and preserve evidence. Save chat logs and payment receipts, alert the bank and file a complaint on the national cybercrime portal and with local cyber police. Prompt reporting increases traceability.
This episode makes one point clear: that popularity is not proof of provenance. A familiar name can be stolen, repackaged, and sold as credibility. Investors must treat every unsolicited “insider” offer as suspect and verify before they hand over money.