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Davangere Doctor Loses Rs 2.4 Crore in online trading scam

Davangere: In another case of cyber fraud, a doctor from Davangere has allegedly lost over Rs 2.4 crore to an online investment scam that was promoted through Telegram, a messaging app.
The incident came to light after the doctor, hoping to earn profits through stock market investments, began chatting with unknown individuals who claimed to offer expert advice. These people convinced him to invest large sums of money, promising high returns.
Between February 18 and May 15, the doctor transferred Rs 2,40,92,150 in several instalments through online payments. However, the truth came out when he tried to withdraw Rs 5 lakh on May 11. While this amount was refunded, his attempts to take out more money later failed.
Also read- Threatened with Digital Arrest, Kolkata doctor loses Rs 1 crore in cyber fraud
Realising something was wrong, the doctor filed a complaint with the Cyber Economic and Narcotics (CEN) police station. As per the Udayavani news report, the police have registered a case and launched an investigation into the case to trace the fraudsters.
Medical Dialogues recently reported that by falsely threatening to arrest him in person and claiming he was being digitally arrested, two scammers posing as fake CBI officials managed to trap the 82-year-old doctor from Tiruvarur district, who ended up losing Rs 1.19 crore. The cybercrime police arrested the two accused who threatened to visit the doctor in person and arrest him unless he made a transaction of a huge sum. Like this, they extorted money from the doctor by claiming that he was involved in illegal activities and was being "digitally arrested."
According to the police, the doctor runs a small clinic in Muthupet. The incident took place a few weeks ago when he received video calls from a group of people who claimed to be officers from the Central Bureau of Investigation (CBI). To intimidate the doctor, the accused falsely claimed he was involved in illegal activities and would face criminal charges. They also threatened to come to his house and arrest him unless he transferred the money.
Also read- 82-year-old doctor loses Rs 1.2 crore to digital arrest fraud
MA in Journalism and Mass Communication
Exploring and learning something new has always been her motto. Adity is currently working as a correspondent and joined Medical Dialogues in 2022. She completed her Bachelor’s degree in Journalism and Mass Communication from Calcutta University, West Bengal, in 2021 and her Master's in the same subject in 2025. She mainly covers the latest health news, doctors' news, hospital and medical college news. She can be contacted at editorial@medicaldialogues.in