Retired doctor loses Rs 4.43 crore in online trading fraud
Kannur: A retired doctor from a prominent private hospital in Kannur fell victim to a major online scam and lost Rs 4.43 crore after being lured into a fake share trading investment scheme.
According to the Kannur Cyber Crime police, the doctor, who had taken voluntary retirement, was contacted by a group of cyber fraudsters through social media earlier this year. Between April and June 2025, they gained his trust and convinced him to invest in stock trading by promising high and guaranteed returns.
Believing the offer to be genuine, the doctor transferred large amounts of money into multiple bank accounts given by the accused. However, he neither received any profits nor got his original investment back.
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When he realised he had been cheated, the doctor filed a complaint with the police. Based on his statement, a case has been registered, and an investigation is currently underway to trace the culprits, The Hindu reports.
Police have urged the public to exercise caution when approached with online investment offers, particularly from unknown individuals or entities.
Medical Dialogues recently reported that in a major cyber fraud case where a former employee of a Noida-based private hospital and his associate were arrested for allegedly siphoning off Rs 9 crore from the Municipal Corporation of Delhi (MCD) health scheme payments over the past two years. While the cybercrime branch police have managed to recover Rs 77.33 lakh, the efforts to trace the remaining amount are underway.
Both the accused used inside information and fake emails to carry out the fraud. The private hospital is part of a health scheme that allows MCD employees to receive cashless treatment. The hospital then sends bills directly to MCD for payment. During the investigation, the police found out that the two accused had been diverting money to different bank accounts for two years, and the amount that they successfully managed to dupe is Rs 9 crore.
Also read- Noida Hospital Former employee, associate arrested for Rs 9 crore Health Scheme Fraud
