Noida Man Duped Of Rs 48.60 Lakh In Forex Investment Fraud News24 –

A 54-year-old man in Noida was duped of ₹48.60 lakh by promising profits in forex trading, police said on Thursday. According to police, Sandeep Agarwal, a resident of Sector 45, said in his complaint that a few months ago he had a conversation with a woman on social media.

The woman convinced him to invest in forex trading. According to the FIR, Agarwal said, “Initially I was not interested, but on the woman’s persistent insistence, I opened a trading account and deposited money through some dealers.”

Police say Sandeep was told that he cannot invest directly and he will have to invest money only through the dealer. Cyber ​​Crime Branch SHO Ranjeet Singh said, “Initially Sandeep invested a small amount and also withdrew some profit. But when the woman won his trust, he invested a total of ₹48.60 lakh.”

The SHO also said that on May 13, Sandeep realised that he had been duped when he was asked to pay tax to withdraw the profit. He then lodged a police complaint, based on which a case has been registered under the IT Act and the Indian Penal Code under sections of cheating and impersonation. The case is under investigation.