Ahmedabad Professor Loses Rs 70 Lakh in Elaborate Telegram Forex Scam
In a distressing case of cyber fraud, a 39-year-old assistant professor working at a government hospital in Ahmedabad has reported being cheated of more than Rs 70 lakh in a sophisticated forex trading scam orchestrated through the Telegram messaging app. The victim, a native of Rajasthan who currently resides in a hospital hostel, lodged a formal complaint with the Cybercrime police on March 29, detailing how he was lured into the fraudulent scheme.
How the Scam Unfolded: From Initial Contact to Massive Losses
According to the police complaint, the incident began in June 2025 when an unknown individual contacted the professor on Telegram. This person allegedly enticed him with promises of exceptionally high returns through forex trading, sharing links to websites that falsely presented themselves as legitimate and reputable investment platforms. Initially, the victim, who had an interest in stock market investments, did not respond to these unsolicited messages. However, after receiving repeated communications, he eventually registered on one of the recommended websites.
During the registration process, the professor was required to share sensitive personal details, including his PAN card and Aadhaar number, which he provided. Subsequently, he was instructed to communicate with another Telegram handle, which offered step-by-step guidance on how to make investments. Over the following weeks, from June 27 to August 1, 2025, the complainant transferred money in multiple instalments to various bank accounts provided by the accused, totaling a staggering Rs 70.6 lakh across accounts in different banks.
Deceptive Tactics: Fake Profits and Withdrawal Traps
The fraudulent website displayed exaggerated profits in cryptocurrency, creating a misleading impression of substantial financial gains to build the victim's trust. To further reinforce this false sense of security, the scammers allowed the professor to withdraw small amounts on two occasions—Rs 27,285 and Rs 85,000—which seemed to validate the legitimacy of the operation. However, when he attempted to withdraw larger sums, he was confronted with demands for additional fees, including advance income tax payments.
Upon refusing to make these further payments and trying to contact the accused, the victim received no response. Shortly after, the website became completely inaccessible, raising his suspicions and prompting him to take action. He contacted the cybercrime helpline and later filed a formal police complaint, providing crucial evidence such as chat logs and transaction records to support his case.
Police Investigation and Ongoing Efforts
Police officials have confirmed that the accused utilized multiple Telegram accounts and bank details to execute the fraud, making it a complex case to trace. A thorough probe is currently underway to identify the perpetrators and follow the money trail. This incident highlights the growing risks associated with online investment scams, particularly those leveraging popular platforms like Telegram to target unsuspecting individuals.
Key Takeaways for the Public:
- Exercise extreme caution when approached with unsolicited investment offers on messaging apps.
- Verify the legitimacy of websites and platforms before sharing personal or financial information.
- Be wary of promises of unrealistically high returns, as they are often red flags for fraudulent schemes.
- Report any suspicious activities immediately to cybercrime authorities to prevent further losses.
As the investigation progresses, authorities urge citizens to remain vigilant and educate themselves about common cyber fraud tactics to avoid falling victim to similar scams in the future.
