A 50-year-old businessman in Bengaluru, searching for a life partner on a matrimonial platform, lost nearly Rs 56 lakh to fraudsters who allegedly lured him into a fake Forex trading scheme with promises of huge profits.
How the fraud unfolded
The victim, identified as Kalyan (name changed), a resident of Rajarajeshwarinagar, told police that the fraud began on March 10 when he was searching for a bride and found a profile under the name Chaithra. He expressed interest and sent a message. Chaithra accepted his request and began exchanging messages with Kalyan, claiming to work in Mumbai. She gradually gained his trust through WhatsApp chats.
After promising to meet Kalyan to discuss the marriage proposal further, she introduced him to Forex trading and convinced him that he could earn massive returns through online investments. The accused shared screenshots showing fake trading profits of others and persuaded him to register on a website named “m.ftmohub.cc” by sending a link. Chaithra promised to guide him and later introduced him to so-called advisors of the firm.
Initial investment and false profits
Kalyan initially invested Rs 50,000, and the platform displayed attractive profits, making the investment appear genuine. Encouraged by the apparent returns, he continued investing larger amounts through RTGS and IMPS transfers into multiple bank accounts provided by the fraudsters.
Demand for additional payments
However, when Kalyan later attempted to withdraw the profits and the money invested, the fraudsters demanded additional payments, claiming they were required for processing tax and release of funds. Kalyan then requested them to return the invested money without profit, which they refused.
Police action
Realising he had been cheated, Kalyan approached police after losing close to Rs 56 lakh. A senior officer confirmed that a case has been registered under the Information Technology Act and BNS Sections 318 (cheating) and 319 (cheating by personation).
