Fake Trump App Scam: Over 200 Karnataka Investors Duped of ₹2 Crore
In a case of cyber fraud, CNBC TV18 reported that more than 200 people who had invested in a fake mobile application named Trump Hotel Rental were scammed, losing over ₹2 crore (twenty million). The application was said to feature AI-generated images and videos to ensure the data appears to be legitimate.
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How the Fraud Was Carried Out
The scammers targeted individuals who sought quick earnings without putting in any work. The app promised daily payouts and profits of 100%. The victims were asked to deposit the money and were rewarded with a small number of regular payouts, making them appear legitimate.
One of the victims shared their experience and said, “I was being paid ₹30 per day, but the scammers only allowed withdrawals once the total earnings crossed ₹300. Since the money was coming on time and I could withdraw it, they began encouraging me to invest more. I started with ₹5,000 and eventually invested up to ₹1,00,000. In the end, they asked me to pay tax to withdraw my funds but never returned the money.”
Reports also stated that some of the victims had invested more than ₹10 lakh (1 million), thinking they would work remotely and earn high returns.
Over 800 May Be Affected
The cases currently confirmed stand at over 200, but the Karnataka police believe that more than 800 individuals have been scammed across the state. The application is said to utilize AI and simulate it in a way that would earn the user’s trust and display a real-time earning dashboard to lure them.
A lawyer from Karnataka lost $0.6 million in the scam, and in the Haveri district of Karnataka, over 15 complaints have been filed.
Widespread Investigations Underway
The scam has facilitated investigations in multiple districts of Karnataka, including Bengaluru, Tumakuru, Mangaluru, Hubballi, Dharwad, Kalaburagi, Shivamogga, Ballari, Bidar, and Haveri.
The authorities have asked people to remain calm and cautious and avoid applications that utilize AI tools. They have asked the public to report any such activity immediately. The investigation is still ongoing, and the police authorities are working to identify the culprit behind the scam.
