Bengaluru doctor falls for IPO fraud, loses Rs 1.16 crore

A Bengaluru-based doctor allegedly lost Rs 1.16 crore over the last few months in a cyber fraud after he was lured into investing in initial public offerings (IPOs) and other stocks, said the police.

The victim, a resident of Srinivasanagar, complained to the South CEN police on September 19. He said that while browsing Facebook on July 18, he came across an advertisement named IIFL trading and when he clicked the link, he was made to join a WhatsApp group.