Kolhapur doctor loses Rs 1.1 crore in cyber fraud, 2 arrested

Once they confirmed the involvement of two individuals, a police team was sent to Surat and successfully arrested both men. During the investigation, the police found that Rs 59 lakh from the total Rs 1.1 crore was transferred to the bank accounts of the accused.

The two were brought to Kolhapur and produced before the court, which has sent them to police custody until July 22. The investigation is still ongoing, and police are trying to trace the remaining money. 

Medical Dialogues had earlier 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. The doctor, who had taken voluntary retirement, was contacted by a group of cyber fraudsters through social media earlier this year. 

Between April and June 2025, they gained his trust and convinced him to invest in stock trading by promising high and guaranteed returns. Believing the offer to be genuine, the doctor transferred large amounts of money into multiple bank accounts given by the accused. However, he neither received any profits nor got his original investment back.

Also read- Retired doctor loses Rs 4.43 crore in online trading fraud