Doctor falls victim to stock market investment scam, loses Rs 76 lakh

Chikkamagaluru: In a cyber fraud case, a city-based doctor reportedly lost Rs 76 Lakhs on the pretext of getting huge returns on stock market investment. Following this, the doctor filed a complaint at the cybercrime police station and a probe has been initiated into this matter.  

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

The incident dates back to March 24 when the doctor received a call from an unknown number. After receiving it, the caller identified representatives from the VIP Anand Vanguard Group who advised the doctor to invest in the stock market for lucrative returns.

Also read- Online Trading Fraud: Kerala Doctor Duped Of Rs 3.42 Crore

Convinced by the caller's suggestions, the doctor willingly transferred a total of Rs 76 Lakhs to various bank accounts between March 24 to April 16, 2024, as reported by Vartha Bharati. 

The situation took a turn when the doctor did not receive any returns on the investment even after two months had passed. He also did not get back the money that he invested in the stock market. The doctor realised that he was duped when he contacted the company out of suspicion and was asked to deposit another Rs 22 lakhs into the account. 

Consequently, the doctor approached the cyber police station and filed a complaint against the unknown fraudster.

Medical Dialogues team had earlier reported that a doctor from Gurugram was cheated of Rs 4.9 lakh by scammers who offered him the opportunity to invest in the share market. The doctor said the entire amount was lost within three days last month.

The culprits used different social engineering techniques including impersonation, fake company names, and promises of easy money to manipulate the victim's trust and lead him to a financial loss.

Also read- Gurugram Doctor Duped Of Rs 4.9 Lakh On Pretext Of Share Market Investment