Gangtok Doctor loses Rs 5.07 Lakh in online share trading scam

The victim, a resident of Daragoan, Tadong, lodged a complaint stating that he was added to a WhatsApp group named "Sharekhan Club 369" without his consent. The administrators of this group, posing as representatives of the well-known stockbroking firm Sharekhan, convinced him to invest in stocks via the Pro Sharekhan app and an associated website, reports India Today.

The police have registered a case under Sections 419 and 420 of the Indian Penal Code (IPC), which pertain to cheating and dishonesty, as well as Section 66D of the Information Technology Act, 2000, which deals with cheating by impersonation through the use of computer resources. Section 419 of the IPC punishes cheating by personation. The punishment can be imprisonment for up to three years, a fine, or both. The case can be tried by any magistrate, and the person who cheated can compound the offence with the court's permission, reports the Daily. Section 420 of IPC punishes aggravated cases of cheating, such as when someone dishonestly induces another person to give up property or alter or destroy valuable securities. The punishment can be imprisonment for up to seven years and a fine.

Authorities have urged the public to be cautious of unsolicited investment opportunities and to verify the authenticity of any financial advice or investment platforms.

Medical Dialogues team reported a similar incident where a Gurugram-based doctor was allegedly cheated of Rs 50 lakh by a woman who promised high returns in a foreign currency investment.