Noida: A resident of Noida was allegedly duped of ₹64.59 lakh after being lured into a fraudulent forex trading scheme that promised assured returns, the police said on Friday.
The complainant, a Sector 58 resident, lodged a complaint at the cybercrime police station on 20 February, stating that he was lured through a weblink sent on WhatsApp in November 2025 from an unknown number to earn high returns through forex trading investment, said officials.
The alleged fraud continued through multiple transactions, leading to a total investment of ₹64,59,125. But when he tried to withdraw a portion of it, he was asked to deposit more funds as a prerequisite. But even after that no funds were credited into his bank account. After consulting others, he realised the profits were fictitious, and part of a fraudulent scheme, they added
“The complainant reported the matter late as he was apprehensive. He was afraid that if he filed a complaint, someone might retaliate or pursue him,” said deputy commissioner of police (cybercrime) Shavya Goyal.
In his complaint, the man also stated that he was instructed to move funds via bank transfers after being shared beneficiary account details on social media. “For each transaction, I was provided a new bank account number. I had to add the account as a beneficiary, wait for about 30 minutes, and transfer the funds.”
The entire operation was structured to systematically extract money under false assurances, he said. “I have been cheated and dishonestly induced to transfer my hard-earned money under false assurances of guaranteed profits,” he said in the complainant.
DCP Goyal said, “The bank accounts have been frozen and further investigation is underway to identify the people involved in the case.”
A case has been registered under Sections 318(4) (cheating) and 319(2) (cheating by personation) of the Bharatiya Nyaya Sanhita, along with Section 66D of the Information Technology (Amendment) Act, 2008.