Tamil Nadu doctor loses Rs 76.5 lakh after clicking on a YouTube ad: Here’s how the scam unfolded

Tamil Nadu doctor loses Rs 76.5 lakh after clicking on a YouTube ad: Here’s how the scam unfolded
HIGHLIGHTS

The doctor was browsing YouTube when he noticed an ad offering trading tips.

Intrigued, he clicked on it and was directed to a WhatsApp group managed by people who claimed to be seasoned investors.

To gain his trust, the group members first taught him basic trading concepts.

In today’s digital age, we often come across investment opportunities online that promise high returns. However, as a recent case from Tamil Nadu shows, not all opportunities are what they seem. A government doctor in Tamil Nadu, lured by a YouTube ad that appeared promising, ended up losing Rs 76.5 lakh to a stock investment scam. 

The doctor, an associate professor at a government medical college, was browsing YouTube when he noticed an ad offering trading tips. Intrigued, he clicked on it and was directed to a WhatsApp group managed by people who claimed to be seasoned investors. In the group, members regularly shared stock tips, screenshots of supposed profits, and discussions that made the doctor feel he was in trusted company. The group was led by someone using the name “Diwakar Singh” and appeared highly credible, with ongoing chats about investment opportunities.

Also read: Retired professor loses Rs 94,000 to fraudster posing as Air India staff: Here’s how you can protect yourself

To gain his trust, the group members first taught him basic trading concepts and encouraged him to invest in high-potential stocks. They urged him to open an account on an online trading platform, assuring him of hefty returns with an estimated 30 percent profit rate on investments. Convinced by their pitch, the doctor soon began transferring large sums into the account, believing his money was secure and that his profits would grow.

Over three weeks in October, the doctor deposited nearly Rs 76.5 lakh through links provided by the scammers. On October 22, however, he faced a shocking hurdle when he tried to withdraw Rs 50 lakh. Instead of accessing his money, he was asked to pay a “processing fee” of another Rs 50 lakh, supposedly required by a “Qualified Institutional Buyers Association.” At this point, he realised he had been scammed and reported the incident to the police.

Also read: Man loses Rs 4.1 lakh in online cab booking scam: Here’s how it happened

How to protect yourself from investment scams

  • Avoid unsolicited ads: Avoid clicking on ads that offer quick investment returns. Scammers often use social media and video ads to attract victims.
  • Research before investing: If you’re interested in trading, consult certified financial advisors and verify the legitimacy of platforms before investing.
  • Beware of high returns: Promises of very high returns are often red flags for fraud.
  • Join verified groups only: Avoid joining unverified financial groups on WhatsApp or Telegram.
Ayushi Jain

Ayushi Jain

Tech news writer by day, BGMI player by night. Combining my passion for tech and gaming to bring you the latest in both worlds. View Full Profile

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