Published on: Nov 22, 2025 05:48 am IST
The officer added that when the victim’s portfolio showed a profit of ₹7.9 crore and he tried to withdraw the money, the woman blocked him on all social media platforms, and he ended up losing the money.
Noida: A 39-year-old man was allegedly duped of ₹2.9 crore in a foreign exchange (forex) trading fraud in Noida’s Sector 11, police said on Friday, adding that a case had been registered.
According to police, the victim is a businessman and resides in Sector 11. In his complaint to the police, he stated, “On June 25, I received a friend request from a woman on a social media platform, which I accepted.”
Police said the woman introduced herself to the complainant as a resident of Jabalpur in Madhya Pradesh. The two exchanged numbers and added each other on WhatsApp.
The FIR states: “During our chat for about 10 days, she introduced me to an online forex trading platform, and also showed me her (trading) wallet, which displayed high returns and 15-20% profit in every (trading) session.”
Lured by profits, the complainant also created an account on the same platform and started trading, police said.
“Initially, he invested ₹50,000 on July 4, but went on to invest around ₹2.9 crore over the next four months in 17 transactions. He even loaned money to invest,” said a police officer, requesting anonymity.
The officer added that when the victim’s portfolio showed a profit of ₹7.9 crore and he tried to withdraw the money, the woman blocked him on all social media platforms, and he ended up losing the money.
“Subsequently, a case was registered at the Cybercrime Branch police station on Thursday under sections of cheating and cheating by personation of the BNS and the IT Act. Further investigation is under way,” said SHO Ranjeet Singh.
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