Doctor Loses ₹1.12 Crore in Faridabad Share Market Scam

Faridabad: In a shocking cyber fraud case, a doctor from Sector-16, Faridabad, was duped of ₹1.12 crore by fraudsters who lured him with promises of high returns from stock market investments. The victim had even broken his fixed deposits (FDs) and mutual funds, and borrowed money from relatives and banks to fund the scheme. Police have registered a case and are investigating the matter.

How the Scam Unfolded

According to the police complaint, the doctor was contacted via WhatsApp by a woman named Deepa Rasimane, who posed as a stock market expert. She persuaded him to invest in IPOs, over-the-counter trading, and institutional stock trading through a mobile app named LKP NHWN, claiming affiliation with SEBI-registered broker LKP Securities Ltd. in Delhi’s Jhandewalan area. She assured the doctor that no demat account was required for institutional trading.

The victim was added to a WhatsApp group where the fraudsters displayed fake screenshots showing profits in his investments. Over a period of two to three months, the scammers promised double or triple returns, keeping the doctor convinced and motivated to invest more.

Fraudsters Demand ₹50 Lakh Tax

When the doctor attempted to withdraw profits, the fraudsters demanded ₹50 lakh as tax through a fabricated invoice. Upon refusal, his account was blocked. By this time, the doctor had already transferred ₹1.12 crore through online and RTGS payments. Visiting the supposed office in New Delhi, he discovered that both the app and company documents were fake.

Police Warning

Police spokesperson Yashpal explained that these scams often involve organized cyber gangs operating from various parts of India and abroad. Victims are trapped by greed and enticed with promises of quick profits through fake WhatsApp groups and screenshots. He urged people to avoid falling for such schemes and to consult their banks directly for opening demat accounts.

This case highlights the growing risk of cyber frauds in stock market investments and the need for caution and verification before transferring funds online.