Crime

Tamil Nadu Doctor Scammed of Rs 76.5 Lakh While Seeking Stock Market Tips on YouTube

India is facing an alarming surge in online investment scams, where scammers target people eager to make easy money. In a recent case, a government doctor from Tamil Nadu lost Rs 76.5 lakh after he clicked on a YouTube advertisement promising stock market guidance.

The doctor, an associate professor at a government medical college, was lured into a WhatsApp group after clicking the ad. In the group, several individuals—posing as investors—discussed stock trading strategies and shared fake screenshots of large profits. One member, known as “Diwakar Singh,” frequently offered trading tips, building the doctor’s trust over time.

The group persuaded the doctor to open an account on a purported trading platform, promising high returns from investments in popular Indian and U.S. stocks. Convinced by the claims of 30 percent profits, he transferred funds to an account shared by the scammers. Over three weeks in October, he invested a total of Rs 76.5 lakh.

On October 22, when the doctor attempted to withdraw Rs 50 lakh, the website declined the transaction, demanding an additional Rs 50 lakh “processing fee” for the so-called “Qualified Institutional Buyers Association.” This raised red flags, and the doctor realized he had been scammed. He reported the case to local authorities.

This case is part of a broader trend where scammers exploit people seeking investment advice online. Authorities urge caution with online ads promoting quick returns, advising the public to avoid unsolicited links and consult certified financial advisors.

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