Cyber fraudsters dupe Parkal doctors of ₹2.50 crore
WARANGAL: Cybercrime officers said a group of Parkal based doctors lost about ₹2.50 crore to an online investment fraud that surfaced this week.
Fraud began with Instagram advertisement
According to Warangal Commissionerate Cybercrime police, an advertisement in the name of Monarch Network Capital reached the doctors through Instagram last week. Each of them opened the link and entered personal details.
Unknown callers then contacted them on WhatsApp, claiming that small investments would yield high profits. The doctors were added to a WhatsApp group that showed purported trading gains.
Initial returns raised confidence
Investigators said the doctors first invested small amounts and received some returns, which increased their confidence in the group. The callers then urged them to invest larger sums. Believing the claims, the three doctors together transferred nearly ₹2.50 crore to bank accounts linked to the group.
Although the dashboard showed the money as available, they were unable to withdraw it. Realising they had been cheated, the doctors approached the Warangal Commissionerate Cybercrime police on January 3.
Case registered; probe underway
Police registered a case and began an investigation on Sunday.
