Cyber Fraud Case in Panvel Involves Doctor’s Major Loss
Details of the Scam
In Panvel, a 58-year-old doctor has reportedly fallen victim to a cyber fraud scheme, losing Rs 20.95 lakh in a stock market investment scam. The incident came to light when the doctor was enticed by promises of high returns on investments.
Police Action
Following the doctor’s complaint, law enforcement officials have launched an investigation into the matter. A case has been registered against unknown cybercriminals under various sections of the Bharatiya Nyaya Sanhita (BNS), specifically Sections 318(4), 316(2), and 3(5), in addition to Section 66(D) of the Information Technology Act. Authorities are currently tracing digital evidence and bank accounts associated with the fraudulent activities.
How the Fraud Occurred
The scam unfolded when the doctor was unexpectedly added to a group managed by the perpetrators. Within this group, the fraudsters regularly disseminated persuasive messages, investment advice, and success stories related to stock trading. These tactics convinced the doctor to click on a link that led to a counterfeit trading application, which the scammers claimed was a legitimate investment platform.
Investment and Realization of Fraud
Believing in the false claims, the doctor opened a demat trading account via the link provided. The scammers promised returns ranging from 5 percent to as much as 500 percent. Trusting their assurances, the doctor invested Rs 20.95 lakh in multiple installments between November 19, 2025, and January 19, 2026. The realization of being scammed struck when the doctor was unable to withdraw either the invested amount or the purported profits.
Attempts to Withdraw Funds
Each time the doctor attempted to withdraw his funds, the application displayed persistent “technical errors.” Subsequently, the fraudsters contacted him, demanding an additional deposit of Rs 25 lakh. They threatened that his current investment would be donated to charity if he failed to comply with their demands.
Conclusion
In light of these developments, the doctor has sought assistance from law enforcement, leading to the registration of a formal complaint. This incident highlights the growing prevalence of cyber fraud, particularly in the realm of investment scams.