forex trading scam
Hyderabad: A 56-year-old doctor from Malkajgiri lost over Rs 1.21 crore to fraudsters in an online investment fraud.
The complainant told police that on Aug 11, he saw an advertisement on Facebook in which a Union minister was promoting an investment scheme. The video promised a per-day return of Rs 80,000 on an investment of Rs 22,000. Believing their assurances, the doctor made 51 transactions to different UPI IDs and bank accounts between Aug 11 and Oct 9, from his two bank accounts. “I had installed five applications for investment from the weblinks provided by the fraudsters and transferred over Rs 1.21 crore. Realising he had been cheated, the doctor lodged a complaint with the national cybercrime helpline on Oct 27. On Thursday, he lodged a complaint with the Malkajgiri cybercrime police and a case was registered under sections 316(2) (criminal breach of trust), 318(4) (cheating), 319(2) (cheating by personation), 338 (forgery of valuable security, will, etc.) of the Bharatiya Nyaya Sanhita (BNS) and sections 66-C, 66-D of the Information Technology (IT) Act.
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They persuaded me to invest in forex trading by promising substantial profits,” the victim told police. Police said they are analysing the fraudulent transactions to identify and arrest the offenders. On the complaint of the victim, a cheating case was registered by Malkajgiri police. “As I clicked on the advertisement to register myself, I was contacted by different people claiming to represent five different online trading platforms. When I tried to withdraw the balance shown in the digital wallets, I was not allowed to do so,” the victim alleged. Download the TOI App.