Quantum AI: Govt warns against fake investment scheme circulating in Nirmala Sitharaman’s name

Press Information Bureau’s fact-checking unit on Sunday, May 24, warned people against a fake investment scheme gaining significant attention on the internet in the name of Union Finance Minister Nirmala Sitharaman.

Under this fake scheme, citizens have been promised monthly earnings of ₹3 lakh after making an initial investment of ₹22,000.

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The PIB Fact Check unit clarified in a post on X that the so-called “Quantum AI” investment platform is fraudulent and not at all related to the Government of India or the Finance Minister.

“Fraudsters are running a ‘Quantum AI’ investment scheme in the name of Union Finance Minister Nirmala Sitharaman, promising citizens a monthly income of ₹3,00,000 against an initial investment of ₹22,000,” it wrote.

Calling the scheme “fake,” it said that neither the central government or Sitharaman is endorsing any such investment platform or scheme.

“Neither the Union Finance Minister nor the Government of India is endorsing any such investment scheme or platform,” it said.

SCAM ALERT!

Fraudsters are running a ‘Quantum AI’ investment scheme, in the name of Union Finance Minister @nsitharaman, promising citizens a monthly income of ₹3,00,000 against an initial investment of ₹22,000. #PIBFactCheck:

❌ This is #Fake.

✅ Neither the Union… pic.twitter.com/ywOzwnKebs

— PIB Fact Check (@PIBFactCheck) May 24, 2026

Moreover, citizens have been advised to stay cautious when dealing with suspicious investment links as well as online platforms claiming guaranteed high returns in a short period.

Further, it has warned that such fake schemes have been designed by fraudsters to deceive people and make them lose their money.

“Beware of such suspicious links or platforms that aim to deceive people into losing their money,” it stated.

Citizens should avoid clicking on suspicious links when received on their smartphones. Also, they should not provide their personal and banking details with unverified platforms circulating on social media and messaging apps.