Kharghar Man Loses Over Rs 1 Crore in Forex Trading Investment Scam

A resident of Kharghar, aged 45, has become the latest victim of cyber fraud, suffering a significant loss of Rs 1.22 crores in a forex trading scheme. The individual was lured into the scam by enticing promises of substantial returns on investment. Cybercriminals manipulated the victim by levying deceptive charges under the pretext of facilitating profit withdrawals.

The saga unfolded when the victim crossed paths with cyber fraudsters on Happn, a dating app he had installed back in November of the prior year. Introducing herself as Ramya Das, a woman initiated communication and shared her Telegram ID @riya681. Through their exchanges, she delved into discussions about his financial investments, ultimately persuading him to delve into Forex trading, promising lucrative returns.

Fully persuaded, the victim committed to the investment scheme and complied with the cyber fraudster's advice to install the ADNMAX app. However, to his dismay, the app abruptly ceased functioning. Following this setback, he was directed to download another application called Translator, where his prior account details were still visible. Initially, he invested Rs 40,000, but as confidence grew, he subsequently transferred Rs 5 lakhs and eventually Rs 9 lakhs into the account. Despite initially witnessing profits, the account balance eventually dwindled to just Rs 50,000 dollars.

When the victim attempted to withdraw his earnings, he was confronted with demands for various taxes. Initially coerced into paying Rs 8 lakhs, followed by an additional Rs 5 lakhs, he was promised a payout of Rs 2.54 crores on January 8. However, the cyber fraudsters persisted in extorting money under the pretext of different charges.

Having lost a total of Rs 1,22,30,560, the victim realized he had been swindled. He sought recourse by filing a complaint with the Cyber Police station, prompting the registration of an FIR against five unidentified individuals for cheating under sections 420, 465, 468, and 34 of the IPC, alongside section 66D of the IT Act. An investigation into the matter has since been initiated.