A timely intervention by the Delhi Cyber Crime Cell has prevented a senior ophthalmologist from Pune from losing an additional Rs 1.59 crore, adding to the Rs 95 lakh he had already lost to fraudsters in an elaborate share trading scam. The doctor was lured into the fraudulent scheme through a social media advertisement promising exceptionally high returns on stock market investments.
Doctor Lured by Social Media Advertisement Promising High Returns
The scam came to light when the 50-year-old doctor, who practices in Pune, filed a First Information Report (FIR) with the local cyber police on July 26. The incident reportedly began after the doctor encountered a Facebook advertisement detailing unusually lucrative prospects in stock market trading. The advertisement suggested that by entering a company’s name on a specific website, users could receive free stock analysis. Following this initial engagement, the doctor was contacted via WhatsApp and subsequently added to an investment group.
According to information available with The Chenab Times, this WhatsApp group comprised over 90 members. Many of these members actively shared screenshots depicting substantial profits from their trades, creating an illusion of a legitimate and highly profitable investment platform. The administrators of the group, who claimed to represent a reputable investment research and brokerage firm, then directly approached the doctor.
Fraudulent Trading Application and Fabricated Profits
The fraudsters instructed the doctor to download a counterfeit trading application, complete Know Your Customer (KYC) formalities, and commence investing. They enticed him with promises of daily returns, increased profits through block trades, and exceptionally high gains from Initial Public Offering (IPO) subscriptions. To build his confidence, the scammers initially asked the doctor to invest a small amount. The fraudulent trading platform then promptly reflected significant profits, and the doctor even received three withdrawals totalling Rs 11,000, which were credited to his bank account.
Convinced by these apparent gains and successful withdrawals, the doctor escalated his investments. Between June 24 and July 16, he transferred funds in multiple tranches to various bank accounts specified by the app. These payments, ranging from Rs 1,000 to Rs 55 lakh, accumulated to approximately Rs 95 lakh. Indian Express reported that the doctor was made to believe his investment could yield returns as high as Rs 54 crore within 11 days.
Delhi Cyber Crime Cell‘s Intervention
The situation took a critical turn when the doctor, likely after realizing the extent of the fraud or facing difficulties in withdrawing his funds, was saved from further financial loss by a call from the Delhi Cyber Crime Cell. This intervention prevented him from transferring an additional Rs 1.59 crore, which the fraudsters were allegedly pressuring him to invest. The police are currently investigating the money trail through the beneficiary accounts used in the fraud.
This case is indicative of a broader trend of online share trading scams that have been increasingly reported in Pune and across the country. These scams often follow a similar modus operandi: luring victims with promises of high returns, using fabricated trading platforms that display inflated profits, and pressuring individuals to invest larger sums. Authorities have repeatedly warned citizens about the dangers of such online investment schemes and urged them to exercise extreme caution and verify the legitimacy of any platform before investing.
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The Chenab Times News Desk
