A 47-year-old businessman from Ahmedabad has become the latest victim of a sophisticated online investment fraud, losing a staggering Rs 25 lakh to cyber criminals operating through popular messaging platforms. The trader from Chandkheda filed a formal complaint with the city's cybercrime police on Wednesday, detailing a months-long deception that began with a promise of high returns from forex trading.
The Elaborate Setup: Gaining Trust on Social Media
The complainant, who operates a wholesale solar electronics business, is an active social media user and regularly invests in the stock market through a registered brokerage. His ordeal began on July 8, 2025, when he was contacted on Telegram by a user identifying herself as "Divya Sharma". Presenting herself as a forex trading expert, Sharma promised exceptionally high returns if the trader allowed her to execute trades on his behalf, demanding a 50% share of the profits.
Over several weeks, the fraudster meticulously built a rapport with the businessman, gaining his confidence through consistent communication. She then persuaded him to begin forex trading through a website named "Go Markets". Believing the opportunity to be genuine, the trader initiated fund transfers.
The Financial Drain: Multiple Transactions Lead to Massive Loss
Acting on the fraudster's instructions, the victim transferred money in multiple transactions between August 10 and September 16, 2025. The scheme appeared legitimate until he attempted to withdraw his supposed profits. At this point, the scammers introduced new hurdles, demanding payment of additional charges, taxes, and commissions to release the funds.
This demand for more money raised immediate red flags. Sensing foul play, the trader finally contacted the national cybercrime helpline 1930 on October 11 to report the incident. His complaint has now been formally registered, and an investigation is underway to trace the perpetrators and the lost funds.
Key Takeaways and Rising Threat of Online Investment Frauds
This case highlights several alarming trends in cybercrime targeting Indian investors:
- Platform Exploitation: Scammers are increasingly using encrypted messaging apps like Telegram and WhatsApp to initiate contact, exploiting their perceived privacy.
- Impersonation of Experts: Fraudsters create fake profiles of financial experts or successful traders to lure victims with promises of guaranteed high returns.
- Fake Trading Platforms: They direct victims to sophisticated but entirely fraudulent websites that mimic legitimate trading portals.
Cybercrime officials urge the public to exercise extreme caution. They advise never transferring money to unverified individuals or platforms promising unrealistic profits. Always verify the regulatory status of any investment portal and be wary of unsolicited investment advice received on social media or messaging apps. The helpline 1930 remains a critical resource for reporting such frauds promptly.
