Gujarat Doctor Loses ₹48 Lakh in Online Investment Scam

In a shocking case of cyber fraud, a 48-year-old doctor from Gujarat’s Morbi district lost ₹48 lakh after falling victim to an online investment scam that promised high returns.

According to police, the doctor, who lives in Halvad taluka, was cheated over a period of 17 days between August 18 and September 3. The scam began when he was contacted through Facebook Messenger by a person claiming to offer expert stock-market guidance. After gaining his trust, the fraudster added him to a WhatsApp group where “high-return” investment schemes were promoted.

Later, the victim was shifted to another WhatsApp group, where the group administrator gave him multiple bank account numbers to transfer money for investment. Believing the schemes were genuine, the doctor kept sending money, thinking his investments were multiplying.

Investigating officer Nayan Vasava told TOI that the scammers even created a fake online wallet for the doctor. Through this fake wallet, he could see the money he had “invested” and the profits that were supposedly being added to his account. This made him believe the scheme was real.

Over 17 days, the doctor transferred a total of ₹48.14 lakh into four different bank accounts. He initially invested ₹43.55 lakh. When he tried to withdraw his profits, the fraudsters told him he needed to pay an additional ₹4.59 lakh as a “service tax.” Hoping to complete the withdrawal, he paid the extra money — only to realise he had been cheated.

Of the four bank accounts used in the scam, two are located in Gujarat and two in other states, officer Vasava said. All four accounts have now been frozen.

A case has been registered at the Morbi Cybercrime Police Station, and authorities are tracking the account holders and the people behind the fraud.