Doctor cheated of Rs 1.15 crore through fake stock trading application, 5 arrested

Faridabad: In another incident of cyber fraud, a doctor was allegedly cheated of Rs 1.15 crore in Faridabad after being trapped into investing through a fake stock market investment app. Five men have been arrested in connection with the case.

According to the police, the accused contacted the doctor, a resident of Sector 16, through WhatsApp in early 2025. They convinced him to download a mobile application and invest money, falsely claiming it was a genuine stock market platform run by a private firm and that they were its employees.

Also read- Former Pharma Executive Duped of Rs 87 Lakh in Online Stock Trading Scam

Trusting them, the doctor invested a total of Rs 1.15 crore through the app. The fraud came to light when the accused allegedly demanded an additional Rs 50 lakh from the doctor, claiming it was necessary to withdraw his earlier investment. Suspecting foul play, the doctor approached the police and filed a complaint.

Based on the complaint, an FIR was registered on January 6 at the Cybercrime Central police station under relevant sections of the BNS. A police team tracked the suspects using technical surveillance and information received from an anonymous tip-off.

The arrested accused have been identified as Sahil Yadav of Kotputli, Ram Singh of Behror, Narender Singh of Firozabad, and Jaipur residents Nemichand Saini and Amit Sharma. All the accused are residents of Rajasthan, as reported by HT.

The investigation revealed that Amit Sharma and Nemichand Saini opened bank accounts for Ram Singh and Sahil Yadav, which were later handed over to Narender Singh.

A senior police official, requesting anonymity, told HT, "Ram and Yadav were made to stay at a hostel when transactions were taking place. Their accounts had allegedly received Rs 25 lakh of the defrauded money."

Further investigation into the case is ongoing.

Also read- Another doctor falls victim to investment scam, Rs 2.5 crore defrauded