Noida businessman scammed out of ₹2.9cr in online forex fraud

India Nov 22, 2025

A Noida businessman lost ₹2.9 crore after connecting with a woman on social media who claimed to be from Jabalpur, Madhya Pradesh.
Their chat quickly moved to WhatsApp, where she convinced him to invest in a forex trading platform by showing off fake high returns.

How it happened and what's next

He started with ₹50,000 on July 4, but over four months ended up making 17 payments—sometimes even borrowing money—hoping for big profits.
Though his account showed a huge gain of ₹7.9 crore, he was blocked from withdrawing any money once he tried cashing out.
The Cybercrime Branch has registered a case under cheating and impersonation laws and is now investigating the scam.