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Sharad Hegde Scam: How 72 Doctors Lost ₹2 Crores in a Fake Medical Tour Fraud

In the world of medicine, where precision and trust are everything, a recent incident shocked the Indian medical community. Seventy-two doctors were reportedly scammed out of ₹2 crores in what seemed to be a luxurious overseas medical tour, but turned out to be a carefully planned fraud. The man allegedly responsible for this? Sharad Hegde—a name now synonymous with betrayal in professional circles.

This blog unpacks how this scam unfolded, who was involved, and the critical lessons it teaches professionals about caution and trust.

A Seemingly Legitimate Opportunity

During a reputed gynaecology conference held in Mumbai in late 2024, many doctors were approached with a tempting offer: an exclusive luxury trip to Baku, Azerbaijan, combining leisure with professional networking. The proposal was made by a man who introduced himself as the founder of IRIS Global Media, a travel and events firm that claimed to specialize in organizing trips for doctors and professionals.

He presented brochures, previous trip photos, and offered a detailed itinerary, making the entire offer appear professional and trustworthy.

The Offer: A Medical Vacation Abroad

The Baku trip package was marketed as an all-inclusive luxury retreat. For ₹1.5 lakh per person, participants were promised:

Round-trip international airfare

Visa arrangements

5-star hotel stays

Guided tours and medical workshops

The offer was circulated via WhatsApp, and within days, a group of 88 doctors was formed. Seventy-two of them eventually committed to the trip and transferred money into accounts associated with IRIS Global Media.

The total? Over ₹2.14 crores.

Cracks Begin to Show

Just days before the scheduled departure in April 2025, the organizer—Sharad Hegde—informed the group via WhatsApp that the trip had been "postponed" due to incomplete payments from some participants. He assured everyone that full refunds would be processed soon.

Some doctors received partial refunds. But for most, that was the last they heard. Messages stopped, calls went unanswered, and eventually, the WhatsApp group was deleted. IRIS Global Media had vanished, along with crores of rupees in payments.

The Police Get Involved

It didn’t take long for the victims to realize they had been scammed. Dr. Rohan Palshetkar, a well-known gynaecologist, filed a formal complaint with Mumbai’s Dadar Police Station. Authorities launched an investigation and registered a case under charges of criminal breach of trust and cheating.

The alleged mastermind, Sharad Hegde, remains at large as legal proceedings move forward. Investigations are ongoing, but many of the victims fear they may never recover their money.

How the Fraud Was Pulled Off

This wasn’t a casual scam. It was a calculated fraud, with every move designed to build trust and lower skepticism.

Step 1: Infiltration

Sharad Hegde used a legitimate medical conference to identify his target group—educated professionals with financial means and a busy schedule, making them less likely to investigate deeply.

Step 2: Fake Authority

He introduced himself as the head of IRIS Global Media, showed previous travel logs and photos, and used marketing materials that looked official and polished.

Step 3: Group Psychology

By creating a WhatsApp group and showing that dozens of others had already signed up, he created a false sense of safety and legitimacy.

Step 4: Stalling and Vanishing

He kept the group calm by refunding a small portion of the funds to a few members. Once suspicions started to rise, he disappeared completely.

Impact on the Medical Community

Doctors are among the most trusted and respected members of society. This scam not only hurt them financially but also emotionally. Many feel embarrassed that they, of all people, could be fooled so easily. Others are now wary of future offers and feel a general mistrust toward third-party vendors, even at official events.

The involvement of a company like IRIS Global Media—which appeared professional and had a sleek image—played a big role in convincing the victims. It’s a powerful reminder that appearances can be deceiving.

What We Can Learn

This case has important lessons for professionals across all industries:

Never transfer large sums without verification

Don't rely solely on social proof (just because others are doing it doesn’t make it safe)

Always research third-party vendors, even those associated with big events

Use secure payment channels and insist on written agreements

If something seems too good to be true, it probably is

Final Thoughts

The Sharad Hegde scam is a wake-up call for educated professionals who often assume their qualifications make them immune to fraud. The truth is, anyone can fall victim when trust is manipulated at the right time and place. The story of IRIS Global Media and the Baku trip that never happened will be remembered as one of the most deceptive scams to hit India’s medical community.

The best defense is awareness. Always verify before you trust—no matter how convincing the offer may seem.

FAQs

1. Who is Sharad Hegde?

Sharad Hegde is the man accused of orchestrating a ₹2 crore scam involving 72 doctors. He posed as the head of a professional event company and convinced doctors to pay for a fake medical tour abroad.

2. What is IRIS Global Media?

IRIS Global Media is the company that was allegedly used to conduct the scam. It presented itself as an event and travel organizer for medical professionals.

3. How did the scam work?

Doctors were offered a luxurious international tour to Baku. After collecting money from 72 doctors, the organizer canceled the trip at the last moment and disappeared with most of the funds.

4. Have any arrests been made?

As of now, Sharad Hegde has not been arrested. An FIR has been registered, and the investigation is ongoing.

5. What precautions can doctors and professionals take?

Always research the company and individual involved. Avoid transferring large sums without legal agreements. And never rely only on WhatsApp groups or peer participation as proof of legitimacy.