Noida businessman scammed of ₹79L in fake online trading scheme
A 76-year-old businessman from Noida lost ₹79.20 lakh after falling for a sophisticated online trading scam.
The fraudster, claiming to be a resident of Bengaluru with years of trading experience, first reached out on social media, then shifted to WhatsApp chats.
To build trust, she even deposited ₹5 lakh on his behalf before convincing him to invest more.
How the scam unfolded and where things stand
The victim was persuaded to join a trading platform and started by investing ₹50,000 on September 17. Over the next month, he transferred nearly ₹79 lakh in multiple transactions based on her advice.
When he tried to withdraw his supposed profits on October 28, he was suddenly asked for an extra ₹61 lakh as "taxes."
Realizing something was off, he reported it to the Cybercrime Branch. Police have confirmed the woman's profile was fake and registered a case for cheating and IT Act violations—investigations are ongoing.