Bengaluru Businessman Duped Of Rs 89 Lakh In Online Trading Scam Via Fake Platform News24 –

A 50-year-old Bengaluru businessman lost nearly Rs 89 lakh in a span of two months after falling prey to an online trading scam that was conducted through a fake online platform. The victim filed a complaint at the East CEN Crime Police Station after he realised he had been duped, as reported by The Times of India.

According to the complaint, Sunil came across an advertisement on Facebook for a platform called ‘FXROAD @FXRoad_Account_Mngr_bot’ that claimed huge profits. After signing up through the free registration link, a woman contacted him and asked him to invest Rs 17,000. The next day, another person showed a credit of around Rs 4,300 on the portal, promising daily profits and tempting him to invest more.

Seeing the initial profits, Sunil kept investing money without knowing that the profits being shown were completely fake. When he tried to withdraw about Rs 14.7 lakh, he was told that he had lost Rs 6.5 lakh and his account was in the negative.

Though he had started getting suspicious, he was made to invest another Rs 21.7 lakh with the promise of earning Rs 8 lakh. Three weeks later, Sunil invested another Rs 43 lakh in one go, hoping to make up for his earlier losses. The fraudsters then demanded another Rs 2.6 crore, which Sunil refused, citing market volatility and payment delays.

When he started demanding his money back, the fraudsters threatened him with legal action. He eventually approached the cyber helpline and lodged a police complaint.