Tycoon Sudhir Ruparelia has issued a warning to the public after a doctored deepfake video falsely depicted him endorsing a dubious online financial platform.
The video, allegedly generated using artificial intelligence, claims that the Ugandan government is suppressing information about a highly profitable investment scheme.
It suggests that an initial investment of Shs915,000 could yield up to Shs10 million per month and accuses authorities of censorship and targeting Ruparelia.
“This platform is completely legal, licensed, and operational in the country,” an AI-generated voice falsely attributed to Ruparelia states, further misleading the public with fabricated statistics.
Investigations reveal that the video is a sophisticated forgery, repurposing footage from a legitimate interview Dr. Ruparelia gave to Uganda Broadcasting Corporation (UBC). Both the visuals and audio were digitally manipulated to create the illusion of an endorsement.
Dr. Ruparelia has categorically denied any involvement, warning Ugandans to steer clear of such scams. “Please be careful, it is a scam. I have not endorsed any online investment platform promising unrealistic returns,” he told CEO Magazine.
Police have raised concerns over the rising cases of online fraud in Uganda. According to the 2024 Police Crime Report, at least Shs474 billion was lost to scams, with only Shs10 billion recovered.
