Nagpur doctor duped of Rs 46.16 lakh in online investment fraud
Nagpur: Cyber police have registered a case after a 31-year-old doctor was allegedly cheated of Rs 46.16 lakh in an online stock investment scam. The accused allegedly lured the doctor with promises of high returns and later demanded additional money under the pretext of processing charges.
According to the police, the doctor has been working at a medical college since April 2025 and has been investing in the stock market for the past four years. The alleged fraud began in May 2026 after the doctor came across a YouTube advertisement related to stock market investments.
Police said the doctor was later contacted on WhatsApp by a person claiming to represent an equity broking firm. He was allegedly offered investment advice and added to a WhatsApp group where regular stock recommendations were shared.
Investigators said another member of the group also shared what was purported to be a SEBI registration certificate, which allegedly helped gain the doctor's confidence.
Believing the platform to be genuine and encouraged by initial profits reflected on the platform, the doctor continued investing. Police alleged that the accused repeatedly persuaded him to increase his investments, following which he transferred a total of Rs 46.16 lakh to multiple bank accounts provided by them.
The fraud came to light when the accused allegedly claimed that the doctor's investment had grown to Rs 16.52 crore. However, when he attempted to withdraw Rs 50 lakh, he was allegedly asked to pay an additional Rs 16 lakh as a processing fee. Suspecting foul play, the doctor approached the cyber police and lodged a complaint.
According to TOI, police have registered a case against the individuals allegedly involved, the management of the purported equity broking company, and the operators of the WhatsApp group under relevant provisions of the Information Technology Act. Further investigation is in progress.
