Thiruvanathapuram doctor duped of Rs 1.11 crore in share trading scam
Fraud
Thiruvananthapuram: In a recent case of cyber fraud, a doctor from Thiruvananthapuram was allegedly cheated of over Rs 1.11 crore by a Gujarat-based man who promised high returns through share trading.
According to the news reports, the 25-year-old suspect, a resident of Bapunagar, Gujarat, was arrested by the City Cyber Crime Police. Investigators revealed that the money collected from the doctor was transferred into cryptocurrency and other digital wallets before being converted and allegedly smuggled abroad.
Also Read:Cybercriminals Trick Dr Reddy's Finance Team, Divert Rs 2.16 Crore Payment
A special team conducted searches in Ahmedabad and nearby areas before apprehending the suspect. He was produced before the Thiruvananthapuram Additional Chief Judicial Magistrate (ACJM) and remanded in custody.
Speaking to Onmanorama, the police said this is the third arrest in the case. The investigation team was led by Inspector Shameer M K under the supervision of senior city police officials.
The case highlights the growing threat of cyber-enabled financial fraud, a pattern seen across the country.
Also Read:Chemist Loses Rs 1.01 Crore in Social Media Investment Scam
Medical Dialogues had previously reported that a chemist in Gondal district fell prey to a high-stakes cyber fraud, losing Rs 1.01 crore after being lured by a fraudulent investment scheme over social media. The businessman now awaits justice as the case unfolds in cybercrime courts. According to the complaint filed at the Cybercrime Police Station in Rajkot, 59-year-old Chandrakant Sakhiya was active on WhatsApp, Facebook, and Instagram. He encountered a reel promoting stock market investments, which led him to a WhatsApp group where seemingly genuine IPO discussions were underway.
