FIR Filed Against Fake Investment Firm Using Premji Invest's Name to Cheat Investors
Bengaluru, July 20 – The Cybercrime police of Bengaluru’s East Division have filed an FIR against unidentified individuals for operating a fake investment platform under the name of Premji Invest, misleading the public using the name and reputation of Wipro founder Azim Premji.
The accused reportedly launched a fraudulent website – premjiex.com – and a corresponding Android app named PREMJIEX, which was previously listed on the Google Play Store. The police also suspect the existence of several WhatsApp groups linked to this app, all falsely projecting themselves as part of the well-known Premji Invest brand.
Misuse of Reputation and Identity
According to the complaint filed by Premji Investment Advisory LLP, the fake platform misused publicly available photographs of its senior management to gain the trust of unsuspecting users. The company clarified that it does not offer any investment advisory services to the general public, and is strictly focused on managing private investments for the Premji Group and its affiliated entities.
The firm also stated that Premji Invest has no social media presence apart from a single verified profile on LinkedIn, and that it does not engage in any stock market tip services or public investments.
Deceptive Claims and Charity Misuse
Further investigation revealed that the fraudsters went as far as to falsely claim that each transaction made through their fake app and website would contribute a portion of the funds to the Azim Premji Foundation, a well-known charitable organization.
“The accused even displayed the official registration number of Premji Investment Advisory LLP to make their website appear legitimate,” the complaint mentioned.
Google Playstore Link to Gujarat-Based Entity
Police found that the app on the Google Playstore included a subtext labeled ‘Gujarat Digital’, allegedly operated by a person named Vishal Ghanshyam, who is now being investigated. Authorities believe this lead could be critical in unmasking the people behind the scam.
Efforts are currently underway to track down all individuals involved, dismantle the network of fraudulent WhatsApp groups, and identify the bank accounts used to collect funds from the victims.
Public Advisory Issued
The Cybercrime Division has urged the public to be cautious about investment platforms, especially those that claim affiliation with reputed organizations. Citizens are advised to verify all such claims through official channels before making any financial transactions.
Final Thoughts – TheTrendingPeople.com
This alarming case once again highlights the risks of financial fraud in the digital space and the urgent need for stricter monitoring of online platforms. Fraudsters exploiting the name of Azim Premji, a respected business and philanthropic figure, shows the extent to which cybercriminals will go to gain public trust and defraud innocent people.
As investigations progress, this case could become a precedent for cracking down on fake investment platforms in India. For now, the best defense is awareness and vigilance.