60-year-old doctor cheated of Rs 13 lakh in trading scam

Published On 2025-10-14 08:22 GMT | Update On 2025-10-14 08:22 GMT

Cyber Fraud

Thiruvananthapuram: In a recent case of cybercrime, a 60-year-old retired doctor from Kumarapuram has fallen victim to an elaborate online investment scam, losing Rs 13 lakh.

The fraud reportedly began in the first week of August when the accused contacted the doctor, claiming to be a staff member of IIFL Securities. They initially offered him a free online course on stock market trading. After the doctor completed the course, he was added to a WhatsApp group where members shared success stories of huge profits earned through trading facilitated by the agency.

Also Read:Chemist Loses Rs 1.01 Crore in Social Media Investment Scam

Encouraged by these testimonials, the doctor made an initial small investment. The accused provided double returns during the first three rounds of investment, encouraging the doctor to increase his stake. However, subsequent investments failed to generate any returns. Despite this, the accused urged him to continue investing to eventually earn profits.

In total, the doctor invested Rs 13 lakh. When he requested a withdrawal of his money, the accused demanded Rs 5 lakh as tax to release the promised profit of Rs 80 lakh. It was then that the doctor realised he had been scammed and promptly filed a complaint with the police.

According to TOI, the city cyber police began a probe after registering a case on the complaints of the victim under Section 66 (D) of the Information Technology (Amendment) Act-2008 and Bharatiya Nyaya Sanhita (BNS) Sections 318 (4) for cheating and 319 (2) for criminal breach of trust.

Also Read:Retired doctor loses Rs 4.43 crore in online trading fraud

Medical Dialogues had previously reported that a retired doctor from a prominent private hospital in Kannur fell victim to a major online scam and lost Rs 4.43 crore after being lured into a fake share trading investment scheme.

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Rumela De Sarkar

With a keen interest in storytelling and a dedication to uncovering facts, Rumela De Sarkar joined Medical Dialogues as a Correspondent in 2024. She holds a Bachelor’s degree in English Literature from the University of North Bengal. Rumela covers a wide range of healthcare topics, including medical news, policy updates, and developments related to doctors, hospitals, and medical education

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60-year-old doctor cheated of Rs 13 lakh in trading scam

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