Nagpur: Cyber fraudsters duped a doctor and a businessman of a combined ₹57.44 lakh by luring them into fake share trading and investment schemes through YouTube advertisements, WhatsApp groups and false promises of extraordinary returns. Separate cases have been registered by the Cyber Police and Hudkeshwar Police, who have launched investigations.
The first case involves Dr. Sujit Ashok Meshram (31), a resident of Ayodhya Nagar and a doctor at a private hospital. According to police, Dr. Meshram had been investing in the stock market for the past four years. In May 2026, he clicked on a YouTube advertisement related to share trading, which led him into the fraud.
On May 15, a man identifying himself as Hemant Oswal contacted him via WhatsApp, claiming to be an employee of Magnum Equity Broking Limited working under Nischal Jain. The victim was then added to a WhatsApp group named “A-1176 Magnum Security”, where members were shown investment tips and promised exceptionally high returns.
Gold Rate
Aug 27 ,2026 - Time 10.30Hrs
Fake Profit of ₹16.52 Crore Displayed
Believing the scheme to be genuine, Dr. Meshram transferred ₹46.16 lakh in multiple transactions. After the investment, the online trading portal displayed a fictitious profit of ₹16.52 crore in his account. However, when he attempted to withdraw the amount, the accused demanded an additional ₹16 lakh as a processing requirement. Realising he had been cheated, he approached the Cyber Police.
Police have registered a case against Hemant Oswal, Nischal Jain, Surbhi Agrawal, Magnum Equity Broking Limited, and the operators of the WhatsApp group on charges of cheating and cyber fraud.
Businessman Duped by Fake Bank Executive
In a separate incident under the jurisdiction of Hudkeshwar Police Station, Sajan Anil Lokhande (42), a businessman from Mahakalinagar, was allegedly cheated of ₹11.28 lakh.
Police said a man identifying himself as Pawan Chaudhary, claiming to be an employee of ICICI Bank, contacted Lokhande through WhatsApp. The accused convinced him to invest in share trading by promising safe investments and high returns. After collecting ₹11.28 lakh through various transactions, the fraudster stopped responding when the victim sought to withdraw his money.
A case has been registered, and further investigation is underway.
Police Advisory
Nagpur Police have urged citizens to remain cautious while responding to investment offers received through social media, YouTube advertisements, WhatsApp groups, or unknown individuals. Investors are advised to verify the authenticity of any company or trading platform before transferring money. Police also warned that any demand for additional payments to release profits is a strong indicator of fraud and should be reported immediately to the Cyber Police.
