‘Be careful with fraud using my name’: the CEO of Capitalmind, Deepak Shenoy, warns against false investment groups

The CEO and founder of Capitalmind, Deepak Shenoy, has issued a warning to investors, alerting them about the scammers who use their name and photo to cheat people through false WhatsApp groups and telegrams that offer advice on stocks. “Keep in mind that some fraud are trying to use my name/photo to cheat people. I have no WhatsApp groups or telegram of any kind for ‘advice’. Be careful and report such fraud accounts and supplantation, ”he wrote in X.

Shenoy published a screenshot of a message, which says: “I created a WhatsApp group with my actions teacher. Our analysts analyze 100% profitable actions and free information of free information every week. It is free for now. If you want to join for free, answer two simple questions.”

Recently, the veteran of the Vijay Kedia market presented a false video in which a similar aspect recommended three actions with 20 times returns in a month. The Deepfake video, which was marked by a user in X, presented a man who spoke in the voice and appearance of Kedia, urging investors to join his channel to obtain “free” actions advice.

Calling the video a direct scam, Kedia wrote: “Someone made a false video of me advising the actions. The face is mine, the voice is mine … but suddenly, dream how I studied in Oxford and grew in New York! If you ever hear me perfect English with Western accent, I just know, it’s not me. Be careful with false videos: verify before trusting, or your money could end in the wrong hands. “

In June 2024, former governor of RBI Raghuram Rajan also raised concerns about Deepfake’s videos that made him pass through him to promote investment advice and individual actions.

In a LinkedIn publication, Rajan clarified that he does not provide investment advice to the public and has never promoted any specific action. “I understand that there are videos of me in several social networks that seek to give advice on investment, especially in individual actions. These are false and the perpetrators should be informed to the relevant authorities, ”he wrote.

Rajan advised investors to be cautious and avoid the purchase of speculative actions. “Investors are usually better who have diversified portfolios of bank deposits, bonds and shares (through mutual funds and ETFs) instead of buying actions or options of individual shares,” he added.

With the Deepfake scams and the increasing impersonation tactics, experts urge investors to verify all financial advice and inform fraudulent activities.