Archive · 28 May 2025
Bengaluru Doctor Loses Rs 1.9 Crore in Trading Scam
A doctor in Bengaluru was tricked by cybercriminals into investing in a fake trading scheme.
The criminals pretended to be from a share marketing company and promised big profits.
They used WhatsApp to communicate and showed fake profits to encourage larger investments.
After the doctor invested nearly 1.9 crore, the criminals asked for more money to withdraw the funds, eventually leading to the doctor losing a significant amount.
The police are now investigating this online fraud case.
A Bengaluru doctor was defrauded of nearly Rs 1.9 crore in a fake trading scam.
Cybercriminals contacted the doctor via WhatsApp, promising daily profits in share market trading.
The fraudsters used fake balance sheets to show profits and encourage larger investments.
The victim was asked to pay additional fees, including commissions and taxes, before withdrawing funds.
A case has been registered under the Information Technology Act and for cheating, with authorities freezing the bank accounts of the cybercriminals.
- Who
- Unidentified cybercriminals posing as Upstox Share Marketing Company representatives and others using multiple numbers.
- What
- A fraudulent share market trading scheme.
- When
- Between April 4 and May 19
- Where
- Bengaluru, India
- Why
- To defraud the doctor by promising high returns and obtaining money.
- Victim
- 65-year-old doctor
- Amount Lost
- Approximately Rs 1.9 crore
- Scam Type
- Fake Trading Scheme
- Modus Operandi
- WhatsApp, fake profits, demands for more money
- Location
- Bengaluru, India
- Alleged Company
- Upstox Share Marketing Company
Sources
200 file complaint over Rs 2 crore loss via 'Trump app'
'Trump' app: over 200 in Karnataka fall prey to investment fraud, lose Rs 2 crore
Karnataka lawyer duped by cyber fraudsters using AI-generated Donald Trump video
AI visuals of US President used to scam people to invest in 'Trump App'
'Trump Hotel Rental' app scam defrauds Karnataka investors of Rs 2 crore
