Jun 20, 2025 06:52 AM IST
In his complaint, the victim said that he was initiated into forex trading by a woman he had come into contact with on social media a few months ago
Noida: A 54-year-old man in Noida was allegedly duped of ₹48.60 lakh on the pretext of making a profit through forex trading, police said on Thursday.
Police said the victim, Sandeep Agarwal, a resident of Sector 45, stated in his complaint that he was initiated into forex trading by a woman he had come into contact with on social media a few months ago. “Initially I was not interested, but she kept insisting, and I opened a trading account. I was asked to deposit the money through some dealers,” the FIR cites him as saying.
Police said the victim was told that he could only invest through a dealer, not directly. “Initially, he made small investments and withdrew profit,” said cybercrime branch SHO Ranjeet Singh, adding but after she won his faith, he went on to invest ₹48.60 lakh.
“The victim realised he had been cheated on May 13 after fraudsters asked him to deposit tax to withdraw profit. He filed a police complaint, and a case of cheating and cheating by personation of the BNS and the IT Act was registered. Further investigation is on,” the SHO added.
