From website to WhatsApp: Inside the fake ‘Premji Invest’ scam

Bengaluru

Bengaluru police have registered a First Information Report (FIR) after Premji Investment Advisory LLP — the private investment management firm of philanthropist and Wipro founder Azim Premji — filed a detailed complaint alleging a sophisticated cyber fraud network exploiting its name and reputation.

The complaint, signed by Lead Counsel and authorised signatory Shivanshu Puhan, outlines an elaborate scheme involving a fraudulent website, a mobile application, and multiple WhatsApp groups. According to the firm, these platforms are being used to impersonate Premji Invest, mislead the public, and collect money under false pretences.

Also Read | Fraudsters use Azim Premji’s name in ₹35 lakh investment scam

Premji Invest, headquartered at Embassy Golflinks in Domlur, Bengaluru, stressed in its complaint that it does not offer any form of investment advisory services to the general public and operates solely for its own group and affiliated entities. The firm also maintains no public social media presence apart from a verified LinkedIn profile.

Despite this, unknown individuals have allegedly created digital platforms claiming to be linked to the company, using its name and credentials without authorisation to run investment scams. The complaint was lodged after multiple third parties contacted Premji Invest to verify the legitimacy of these suspicious operations, prompting an internal inquiry and legal action.

Fraudulent website: premjiex.com

Central to the alleged scam is a website operating under the domain premjiex.com. The complaint states that this site uses the Premji Invest trade name prominently on its landing page, making it appear as though it is an official service of the company.

The fraudulent platform reportedly promises “sky-high returns” on investments, offers stock market tips, and falsely claims that all transactions will contribute to the Azim Premji Foundation. To add credibility, the operators have even published the genuine registration number of Premji Investment Advisory LLP — a move the company says was done without consent and with the intent to deceive.

The PREMJIEX mobile application

In addition to the website, the complaint identifies a mobile application named ‘PREMJIEX’, available for download on the Google Play Store. The 13 MB app carries the subtext “Gujarat Digital” and lists Vishal Ghanshyam Maghudiya as its developer, along with the contact email phoenix.softnet.2001@gmail.com.

Though the app has only recorded over 100 downloads so far, Premji Invest notes that even a small number of victims could face significant financial loss. Several users reportedly reached out to the company directly to confirm whether the app was legitimate, which it categorically denied.

WhatsApp groups and identity theft

The alleged scheme extends into encrypted messaging platforms, with multiple WhatsApp groups created to offer “exclusive” investment tips. According to the complaint, administrators of these groups have misused publicly available photographs of Premji Invest’s management team, assumed false names, and impersonated senior executives to gain the trust of potential victims.

This use of real personnel images, coupled with fabricated identities, is described as a misuse of the company’s “legal personality” and a deliberate attempt to reinforce the illusion of authenticity.

Premji invest’s preventive actions

Upon uncovering the fraudulent activities, Premji Invest took several immediate steps:

1. Publishing public warnings on its official website.
2. Posting alerts on its verified LinkedIn page.
3. Advising the public that it has no connection with premjiex.com, the PREMJIEX mobile app, or any WhatsApp investment groups.

These measures were aimed at preventing further victimisation while awaiting law enforcement action.

A growing pattern of brand impersonation in cybercrime

The Premji Invest case is part of a larger trend where high-profile brands and individuals are targeted by scammers to lend legitimacy to fraudulent schemes.

According to a 2024 report from the Indian Cyber Crime Coordination Centre (I4C), investment fraud cases involving impersonation of well-known corporate names have risen by over 45% year-on-year. These scams typically combine:

• Professionally designed fake websites.
• Apps hosted on trusted platforms like Google Play or Apple App Store.
• Messaging app groups using stolen images and forged identities.

Expert commentary on risks

“Fraudsters know that using a respected name reduces suspicion,” explains a Bengaluru-based cyber law specialist. “If the brand is linked to someone like Azim Premji, the public’s trust in that name can be exploited to make unrealistic offers sound believable. That’s what makes this type of fraud particularly dangerous.”

Cybersecurity analysts note that even limited engagement with such platforms can result in victims losing both their investments and personal data, which may be further misused for identity theft.

The challenge of enforcement

While Google Play’s policies ban fraudulent apps and brand impersonation, enforcement often depends on user reports, meaning a malicious app can remain available for weeks before removal. Similarly, WhatsApp’s end-to-end encryption prevents proactive scanning for scam content, making group-based fraud detection difficult unless reported by victims.

Law enforcement officials stress the need for faster takedown mechanisms and closer coordination between tech platforms and cybercrime cells.

Public advisory from Premji Invest

Premji Invest has issued a direct appeal to the public:

• Do not engage with any website, app, or group claiming to offer public investment advisory services under the Premji Invest name.
• Verify the authenticity of any financial platform before making payments or sharing personal details.
• Report suspicious activity to cybercrime.gov.in or local police.

Looking ahead

For now, the scale of the financial losses linked to the premjiex.com network remains unclear. Police investigations will focus on identifying the individuals behind the website, mobile application, and WhatsApp groups. If proven, the case could become a benchmark in how India handles high-profile brand impersonation in the cybercrime space.

Premji Invest’s complaint concludes with a warning:

“These illegal acts not only affect the reputation of Premji Investment Advisory LLP but also risk causing significant losses to innocent victims. Immediate law enforcement intervention is critical to prevent further harm.”