Surat Property Dealer Defrauded of Rs 57 Lakh in Elaborate Forex Trading Scam
In a significant cyber fraud case, the Surat Cybercrime Police have officially booked a property dealer from Vadodara and four other individuals for allegedly cheating a Surat-based property dealer of a staggering Rs 56.92 lakh. The elaborate scam revolved around enticing the victim with promises of exceptionally high monthly returns through forex trading investments.
How the Forex Trading Fraud Unfolded
The victim, identified as Karshan Khokhani, was reportedly approached in January 2024 by an acquaintance named Patel, whom he knew through the property business. Patel presented what seemed like a lucrative investment opportunity in the foreign exchange (forex) market, guaranteeing monthly returns of 5% to 6% on the invested capital.
To facilitate the process, Patel provided Khokhani with the contact details of an individual referred to as 'Sompuri Bhai'. Upon contacting Sompuri, Khokhani was given further assurances. Sompuri explained that the investment would not only generate regular profits but also include TLC coins as a complimentary gift. He specifically promised that Khokhani would be able to withdraw 2% of the invested amount every month, creating an illusion of steady, accessible returns.
The Trap: Transfers and False Profits
Convinced by these assurances, Khokhani agreed to invest. Sompuri proceeded to open an account for him on a specific trading website. Following this, Khokhani transferred a total of Rs 56,92,000 in multiple instalments to the designated accounts.
Initially, the scheme appeared legitimate. The online trading account displayed substantial paper profits, and Khokhani was even permitted to withdraw a small amount of money, likely to build trust and credibility. However, the situation took a drastic turn on December 9, 2024, when all further withdrawal requests were abruptly blocked by the platform.
Excuses, Avoidance, and Police Intervention
Alarmed, Khokhani immediately demanded the return of his principal investment and the promised profits. In response, Patel and Sompuri allegedly began providing a series of various excuses and deliberately avoided repayment. With all attempts at private resolution failing and the accused becoming unresponsive, Khokhani had no choice but to seek official help.
On January 1, 2025, he contacted the official cybercrime helpline and lodged a formal complaint detailing the entire fraudulent scheme. Based on the preliminary inquiry conducted by the cybercrime unit, the Surat Cybercrime Police registered a First Information Report (FIR) on Tuesday and have launched a full-scale investigation into the matter.
Ongoing Investigation and Broader Implications
The police are now actively investigating the roles of the Vadodara-based property dealer, Patel, Sompuri Bhai, and their other associates. This case highlights the growing sophistication of online investment scams that prey on individuals seeking high returns. Authorities are urging the public to exercise extreme caution with unsolicited investment offers, especially those promising guaranteed high profits in volatile markets like forex trading.
The Surat Cybercrime Police have assured that they are pursuing all leads to apprehend the accused and recover the defrauded funds.
