Cyber Scammers Nabbed in Mumbai: Elderly Doctor Swindled in Fraudulent Share Scheme

Two individuals were arrested for defrauding a 79-year-old Mumbai doctor of Rs 25 lakh through a bogus share trading scheme. The suspects, Prashant Chaudhary and Richard Rao, used multiple bank accounts for the fraudulent transactions. The doctor was lured via WhatsApp into the fraudulent investment opportunity, leading to financial losses.

Authorities have apprehended two individuals suspected of scamming a senior Mumbai doctor out of Rs 25 lakh through a counterfeit investment scheme. The duo, Prashant Chaudhary and Richard Rao, allegedly facilitated fraudulent transactions by operating multiple bank accounts linked to cyber fraudsters.

The victim, a 79-year-old doctor and business owner from Powai, was deceived through WhatsApp messages promising lucrative stock investment opportunities. He invested heavily, motivated by initial profits displayed in his account, only to later discover the money was inaccessible.

Despite contacting group administrators and facing constant demands for further investment to regain access to his funds, he reported the fraud to the Western Region Cyber Cell. Police detected money trails leading to the arrested suspects, who are said to have gained commissions by transferring funds from illicit transactions to broader fraud networks.