What happened

Fraudsters used an AI-generated video of Donald Trump to promote a fake investment opportunity called "Trump Hotel Rentals" via YouTube, social media, and a dedicated mobile app. 

The video promised daily returns of up to 3 percent and appeared highly convincing, leveraging Trump's likeness and voice to build trust. 

Victims, including professionals and government employees, were enticed to deposit an initial sum (as low as ₹1,500) and were shown fake returns in the app. Early small payouts encouraged larger investments, sometimes exceeding ₹5 lakh per person. 

Eventually, victims were asked to pay additional "taxes" to withdraw their supposed profits, after which the scammers disappeared with the money. 

Some individuals lost their life savings.  

Why it happened

The scam succeeded due to the realistic deepfake video, which exploited the public's trust in recognisable figures and the lure of high, quick returns. 

The fraudsters used sophisticated social engineering, AI technology, and app-based redirection to evade detection. 

The initial small, timely payouts fostered a false sense of legitimacy, prompting victims to invest more. 

The app's backend was reportedly hosted on overseas servers, making it difficult for authorities to trace and dismantle the operation.