Retired doctor loses Rs 4.43 crore in online trading fraud
Kannur: 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.
According to the Kannur Cyber Crime police, 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- Indian-Origin Psychiatrist arrested in US over $149 million healthcare fraud
When he realised he had been cheated, the doctor filed a complaint with the police. Based on his statement, a case has been registered, and an investigation is currently underway to trace the culprits, The Hindu reports.
Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.
NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.