Coimbatore: The city cybercrime police have registered a first information report (FIR) in a case where a 50-year-old businessman from the city was cheated of Rs 72.8 lakh in an online trading scam last year. According to the police, an unidentified individual added the businessman to a WhatsApp group in October 2025. The group members actively shared their success stories in online trading and promoted a particular online trading platform, claiming it helped them reap high profits.
"One of the group members then approached the businessman and promised huge profits if he invested in online trading as per his directions. Believing the person, the businessman transferred Rs 72.75 lakh to him in 13 transactions between October and November 2025," an officer said. However, when the businessman attempted to withdraw his profits from the trading portal, he realized he had been duped. The victim immediately approached the authorities and lodged a formal complaint in November 2025.
The city cybercrime police initially issued a community service register receipt and commenced a preliminary inquiry. Following the initial probe and verification of bank transactions, the police registered an FIR on Thursday and began investigations to apprehend the fraudsters. The case highlights the growing menace of online trading scams, where fraudsters lure victims through social media platforms and fake trading portals. Authorities urge the public to exercise caution and verify the authenticity of trading platforms before investing.
