Dharwad doctor loses Rs 1.79 crore in stock market scam

Hubbali: In a cyber fraud case reported in the city, a female doctor from Dharwad lost around Rs 1.79 crore under the pretext of stock market investment with the promise of high returns.

The doctor experienced a financial setback following a phone call conversation with a fraudster who falsely promised her significant profits from stock market investments. Trusting the scammer's guidance, the physician was deceived and ultimately lost all of her money.

The incident dates back to November 2023 when the 45-year-old doctor received a call from an unknown number. After receiving it, the caller identified as a financial advisor who advised the doctor to invest in the stock market for lucrative returns. 

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According to a TNIE news report, The fraudster assuring the doctor of more profit suggested to invest in the IPO of Planet Image International Company. Convinced by the caller's suggestions, the doctor willingly joined a social media site.

However, the situation took a dark turn when the caller fraudulently transferred Rs 1.79 crore in a phased manner in a period of over one month from various bank accounts associated with the victim. 

It was discovered that the fraudster was able to collect the doctor's bank account details after she joined the stock market investments. 

Realising that she had been duped, the doctor approached the cyber police station and filed a complaint against the unknown fraudster. Acting on the complaint, the police registered an FIR under relevant sections of IPC.

Following this, an investigation has been launched in connection with the case. 

Medical Dialogues team had earlier reported that the Bhiwandi police registered a case after a woman doctor lodged a complaint alleging that four persons, including two doctors, had duped her of Rs 1.54 crore under the pretext of arranging funds for a hospital in the Thane district of Maharashtra.

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