Thane-based doctor loses ₹3.84 crore to three Karnataka-based men in fraudulent medical equipment contract scheme

A Thane doctor lost ₹3.84 crore to a fraudulent municipal contract scheme promising profitable returns.

Published on: Nov 10, 2024, 14:07:51 IST

By Yamini C S

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In yet another cyber crime incident, a doctor from Thane fell victim to a fraud scheme, losing as much as ₹3.84 crore to three individuals from Karnataka who lured him with the promise of profitable returns through a municipal contract to supply medical equipment.

Law enforcement officials have observed an increase in such cases as fraudsters exploit online platforms to target unsuspecting individuals, offering high returns on minimal investments. (HT Photo)

According to a police official from Naupada police station, the 39-year-old doctor invested substantial funds in various items related to the contract from December 1, 2020, until March 27 of this year. After months of seeing no returns or profit, he approached the police for assistance, news agency PTI reported.

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Cops have registered a case of cheating; however, no arrests have been made yet, the official stated, noting that the investigation is ongoing. "The man approached police after he did not get profits or any return on investment. We have registered a case of cheating but have not arrested anyone," the police official said, as quoted by the agency.

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In a similar incident recently, a 50-year-old resident of Bengaluru, Kumar Utlasar, was apprehended by the cyber crime cell of the Goa Police for allegedly defrauding a resident from Valpoi of ₹2.3 crore in an investment scam. According to the police, Utlasar convinced the victim to invest in high-yield stocks through a series of persuasive WhatsApp messages, promising lucrative returns. When the promised profits failed to materialize, the victim filed a complaint, leading to Utlasar’s arrest.

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Bengaluru has recently been grappling with a rising wave of cyber fraud incidents, which include courier scams, fraudulent stock investment schemes, and other digital financial deceptions. Law enforcement officials have observed an increase in such cases as fraudsters exploit online platforms to target unsuspecting individuals, offering high returns on minimal investments. Both incidents serve as stark reminders of the need for caution when engaging in online investment opportunities, as authorities continue to combat an escalating trend of cyber-related crimes in the region.

(With inputs from PTI)

ABOUT THE AUTHOR
Yamini C S
Yamini CS is a Senior Content Producer at Hindustan Times with nearly six years of experience in digital journalism. She is part of the India News desk, where she works on a wide range of stories cutting across civic issues, city-based developments, politics, governance, public policy, breaking news, trending topics, and international affairs that have an impact on India. Her role involves tracking fast-moving developments, verifying information from official and on-ground sources, and presenting news in a clear, accessible format for a digital-first audience. A significant part of her work includes handling live blogs during major news events, such as elections, court verdicts, political developments, civic disruptions, protests, weather-related alerts, and unfolding national or international incidents. Through live coverage, she focuses on timely updates to help readers follow complex stories as they evolve. Before moving to the broader India News desk, Yamini was associated with the Bengaluru desk at Hindustan Times, where she extensively covered urban governance, infrastructure, traffic and transport issues, weather events, public grievances, and civic administration in the city. This experience strengthened her grounding in city reporting and sharpened her focus on citizen-centric journalism. She began her career as a correspondent with Reuters after completing a postgraduate diploma in journalism from the Indian Institute of Journalism and New Media. Her early training instilled a strong emphasis on accuracy, sourcing, and news ethics, which continue to shape her reporting style. Outside of work, Yamini enjoys reading across genres, listening to music, and spending time with her family, which help her maintain balance in a fast-paced newsroom environment.Read More

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