India, Nov. 23 -- In yet another instance of cyber frauds invoking the names of famous personalities in the finance world to dupe their victims, a retired doctor from Mahim was cheated of nearly Rs.1.47 crore by frauds pretending to be affiliated to finance minister Nirmala Sitharaman.

According to the central cyber police, on October 1, the retired doctor came across an advertisement on social media which contained a photo of Sitharaman. He mistook the post for a central government scheme which claimed it could turn a Rs.21,000 investment into Rs.60,000.

The police said the former doctor clicked the provided link, uploaded his details, and soon got a call from a woman who introduced herself as Meenakshi, one of the employees of the sha...