Ahmedabad Chartered Accountant Defrauded of Rs 8.3 Lakh in Elaborate Forex Trading Scam
A 42-year-old chartered accountant from the Naroda area of Ahmedabad has reportedly fallen victim to a sophisticated forex trading fraud, losing a substantial sum of Rs 8.30 lakh to unidentified perpetrators. The victim filed a formal complaint with the Ahmedabad Cybercrime police on Tuesday, detailing a deceptive scheme that began with social media advertisements in December.
How the Scam Unfolded: From Social Media Ads to False Profits
The complainant stated that he initially encountered an advertisement on social media platforms, which promoted lucrative investment opportunities. After viewing an associated video, he was added to a messaging group that purported to offer "share/options trading leads." This group systematically displayed fabricated profit details of other so-called investors to build credibility and trust among new members.
Persuaded by these misleading claims, the CA agreed to invest in forex trading. The scammers first instructed him to deposit Rs 50,000 via a QR code. Following this payment, they informed him that he had earned an impressive profit of Rs 3.94 lakh. However, they added a crucial condition: to withdraw these funds, he needed to first pay additional forex charges.
Escalating Payments Through Multiple Channels
To further convince him, the accused sent an "investment file report" that showcased enormous, albeit entirely false, profits. Trusting these documents, the victim continued to transfer money through various digital payment methods. The fraudsters provided multiple QR codes, UPI IDs, and bank account details via WhatsApp for these transactions.
As the scam progressed, payments were made not only from the CA's personal accounts but also, when transaction limits were reached, through the accounts of his wife and friends. This multi-account approach allowed the fraud to escalate rapidly. Allegedly, a total of Rs 8.3 lakh was transferred between December 3 and December 9, highlighting the speed and efficiency of the scammers' operations.
Formal Complaint and Cybercrime Response
Upon realizing the deception, the victim contacted the national cybercrime helpline 1930 for assistance. Subsequently, he lodged a formal complaint with the Ahmedabad Cybercrime police on Tuesday, initiating an investigation into the matter. This case underscores the growing threat of online financial frauds that exploit digital payment systems and social media platforms.
Authorities are urging the public to exercise extreme caution when encountering unsolicited investment offers online, especially those promising high returns with little risk. Verifying the legitimacy of such opportunities through official channels and avoiding transactions based solely on digital communications is crucial to prevent similar incidents.
