TL;DR: Scammers created a fake Facebook profile impersonating retired SBI chairman Arundhati Bhattacharya, contacted a 72-year-old Bengaluru retiree about an investment opportunity, and walked away with ₹5.36 lakh over two months. The playbook — a fake profile of a real, trusted public figure — is becoming one of the most effective investment-scam formats in India.

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The victim, a retired man from Bhuvaneshwari Nagar, was first contacted on Facebook about a "lucrative business investment opportunity." The profile behind the message claimed to be Arundhati Bhattacharya, the real former chairman of State Bank of India — a name instantly recognizable and trusted by anyone who's followed Indian banking. Between April 1 and May 31, 2026, the victim transferred ₹5.36 lakh across multiple bank accounts and UPI IDs the scammers provided, believing he was investing alongside one of India's most respected former bankers.

Why this specific impersonation works so well

Using a real, named, high-credibility public figure is a deliberate escalation from the generic "financial advisor" persona scammers used to rely on. A fake profile using a recognizable retired executive's name and photo short-circuits the skepticism a made-up name would trigger — the victim isn't evaluating a stranger's credibility, they're trusting a name they already know. Reports on this case note scammers even invoked other well-known names, like Mukesh Ambani, to reinforce the illusion further.

How the scam unfolded

The pattern matches classic investment-fraud structure, just with a more convincing face on it: initial contact through a social platform, a low-pressure pitch about an exclusive opportunity, small early "returns" or reassurance to build trust, and escalating transfer requests once the victim is committed. The victim only realized something was wrong after receiving no returns and being unable to reach anyone — by then, the money had already moved through several accounts and UPI IDs, making recovery difficult.

How to protect yourself from this specific pattern

If you've already sent money

File a complaint immediately through India's National Cybercrime Reporting Portal (cybercrime.gov.in) or call 1930 — early reporting gives banks the best chance to freeze funds still in transit through the mule accounts scammers use. Also report the fake profile directly to Facebook/Meta so it's taken down before targeting someone else.

FAQs

How do I know if a public figure's profile contacting me on Facebook is real?

Public figures generally don't approach individuals through personal DMs to pitch investments. Verify any such contact through the person's official website or a verified channel — never trust the messaging thread itself as proof.

What made this scam more effective than a typical investment fraud?

Using a specific, real, highly trusted name (a former SBI chairman) instead of inventing a fake advisor persona — it borrows the target's existing trust in someone they already respect.

What should I do if I already sent money to a scam like this?

Report immediately to your bank, file a complaint via cybercrime.gov.in or call 1930, and report the fake profile to the platform directly. Speed matters — funds are harder to trace the longer they sit in mule accounts.

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