PGI Doctor Defrauded of Rs 1.1 Crore in Sophisticated Cyber Scam
In a shocking incident from Chandigarh, a doctor at the Postgraduate Institute of Medical Education and Research (PGI) has reportedly fallen victim to a cyber fraud, losing a staggering Rs 1.1 crore. The elaborate scam involved a counterfeit online trading platform and deceptive WhatsApp groups, highlighting the growing risks of digital investment schemes.
Details of the Fraudulent Scheme
The complainant, Dr. Rakesh Prabhugoud Patil, a 33-year-old neurosurgeon residing in Sector 38 C, was allegedly ensnared in this fraudulent investment scheme earlier this year. According to his statement, he began exploring stock market opportunities through social media in December 2025. By January 2026, he was added to a WhatsApp group named "Po8-5 Paisa Wealth Horizon", which boasted approximately 250 members.
This group was purportedly managed by individuals masquerading as investment advisors, including a coordinator and a team leader. They convinced Dr. Patil to open a trading account on a mobile application called ‘5-P'. To initiate the process, he invested Rs 10,000 via UPI, a move that marked the beginning of his financial downfall.
Escalation of the Scam
To build trust, the fraudsters displayed fabricated profits on the app's dashboard, luring Dr. Patil into investing larger sums. They promoted "daily return" schemes and IPO trading plans, promising returns as high as 5% per day. Over the subsequent two months, the victim transferred a total of Rs 1.1 crore across 25 transactions, using various banking methods into multiple accounts controlled by the scammers.
By the end of March, the app falsely showed a balance of Rs 4.7 crore, including over Rs 4.1 crore in illusory profits. However, when Dr. Patil attempted to withdraw funds on March 23, he was instructed to deposit an additional Rs 41.5 lakh as "brokerage charges".
Further Demands and Realization
Despite growing suspicions, Dr. Patil complied with this demand after other group members—who were actually accomplices in the scam—claimed to have successfully withdrawn substantial profits. The fraudsters then escalated their demands, requesting another Rs 10 lakh for a "security deposit", allegedly mandated by the Reserve Bank of India due to suspected money laundering activities.
It was at this point that Dr. Patil realized he had been cheated. He promptly approached the cyber crime police to file a complaint. Authorities have confirmed that an investigation is currently underway to trace the perpetrators and recover the lost funds.
Broader Implications and Warnings
This case underscores the increasing sophistication of cyber frauds targeting unsuspecting individuals through social media and messaging platforms. Experts advise caution when engaging with online investment groups and emphasize verifying the legitimacy of trading applications through official channels. The incident serves as a stark reminder of the potential financial and emotional toll of such scams, urging the public to remain vigilant in the digital age.
