Hyderabad doctor loses Rs 86 lakh after falling for WhatsApp investment scam

Medical Dialogues Team

Hyderabad doctor loses Rs 86 lakh after falling for WhatsApp investment scam

Written By : Medical Dialogues Team Published On 2026-07-08T16:03:22+05:30 | Updated On 8 July 2026 4:03 PM IST

Hyderabad: A 76-year-old Hyderabad-based doctor allegedly lost Rs 86 lakh to cyber fraudsters who lured him into a fake investment scheme by misusing the name of Union Finance Minister Nirmala Sitharaman in a social media advertisement.

According to the complaint, the doctor came across an online advertisement in March that promised unusually high weekly returns on investments. Soon after, he was contacted on WhatsApp by a man claiming to represent an investment firm, who allegedly persuaded him to register by paying a fee and opening a Demat account.

Police said the victim was allegedly persuaded to trust the investment platform through promises of exceptionally high returns and was guided step-by-step to make multiple transactions. Investigators believe the fraudsters gained his confidence over time, encouraging him to increase his investments before preventing him from withdrawing the money and demanding additional payments under various pretexts.

Also Read:75-year-old Pune doctor scammed of Rs 12.3 crore in share trading fraud

Believing the investment to be genuine, the doctor initially transferred ₹5 lakh and later invested larger amounts after being shown assurances of substantial profits. However, when he attempted to withdraw nearly ₹85 lakh, he allegedly found that the funds had been diverted to another account. The fraudsters then reportedly demanded additional payments in the name of bank and processing charges.

According to a report by The New Indian Express, the next day, he received a WhatsApp call from a man identifying himself as ‘Ashwin’, who claimed to represent a company called Social Venture Capital and persuaded him to register by paying Rs 17,500 and opening a Demat account. Realising he had been cheated, the doctor approached the Hyderabad cyber crime police, who registered a case and launched an investigation.

Police are investigating the case to identify those involved and trace the money allegedly lost in the fraud.

Also Read:Cyber Fraud: Mumbai woman duped of Rs 50.8 lakh by man posing as Gynaecologist

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Medical Dialogues Team