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.
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.
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