Vasai doctor, associate accused of Rs 4.5 lakh investment fraud

Published On 2025-10-13 07:14 GMT | Update On 2025-10-13 07:14 GMT

Fraud

Mumbai: In a shocking case of deception and financial fraud, a Vasai-based doctor and her associate have been booked for allegedly cheating a 79-year-old man out of Rs 4.5 lakh by luring him into a fake investment scheme involving antiques and rare metals.

According to the Achole police, the victim, Shabbir Nagdawala, a resident of Evershine City in Vasai East, was acquainted with a doctor who runs a clinic on Ambadi Road in Vasai West. In July, during a routine visit to her clinic, the doctor introduced Nagdawala to a man who claimed to be a DRDO scientist. He reportedly presented a fake identity card, which convinced Nagdawala of his credentials. Since a respectable doctor vouched for him, I did not have any doubt,” said Nagdawala.

Also Read:92-Year-Old Retired Doctor Duped of Rs 21 Lakh in Insurance Fraud

Police reported that Nagdawala informed the doctor of his desire for the deal to take place in his presence and travelled to Kolkata in August. He stayed there for seven days while the other two individuals attended meetings and gave daily assurances that the antique would be delivered soon. Over the course of a month, the duo collected Rs 4.5 lakh from him without delivering any product. Growing suspicious, Nagdawala eventually approached Deputy Commissioner of Police Purnima Shringi.

Speaking to Hindustan Times, the Achole police officers said that they have registered an FIR under sections 318 (4) (cheating), 316 (2) (criminal breach of trust), and other relevant sections of the Bharatiya Nyaya Sanhita (BNS). “We have called the complainant to record a detailed statement. After that, we will know what kind of antiques were promised,” said police sub-inspector Guru More, of Achole police station.

The case raises fresh concerns about rising financial fraud targeting senior citizens.

Also Read:Mumbai doctor duped of Rs 25 lakh in online trading fraud

Medical Dialogues had previously reported that amid a growing wave of cybercrime targeting senior citizens, a 79-year-old doctor from Powai has become the latest victim of a sophisticated online share trading scam, losing nearly Rs 25 lakh. The Cyber Cell of Mumbai Police’s Western Region has arrested two suspects in connection with the fraud.

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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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Vasai doctor, associate accused of Rs 4.5 lakh investment fraud

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