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In yet another case highlighting the growing threat of online investment fraud, cyber criminals allegedly cheated an Agra resident out of nearly ₹25 lakh by luring him into a fake forex trading scheme. The organized fraud came to light after the victim repeatedly failed to withdraw his initial investment and the ballooning profits displayed on the digital trading platform, only to be asked for additional processing payments under various fabricated pretexts.
Based on a detailed complaint filed by Rajkumar, a resident of Awas Vikas Colony, a formal cyber fraud case has been registered by regional enforcement units. According to the complaint, in January 2026, a woman identifying herself as Sunita Verma from Mumbai contacted him and gradually built a relationship through regular conversations. During these interactions, she introduced him to forex trading and claimed that investors were earning substantial profits through foreign exchange markets.
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The Hook of Fake Displays and Initial Trust
The woman assured Rajkumar that forex trading was a safe and highly lucrative investment opportunity. Over time, she successfully convinced him to register on an online trading platform and begin investing. Trusting her claims, Rajkumar invested an initial token amount of ₹10,000 on January 5 and started trading through the software.
For the first few days, the platform interface showed highly attractive profits, increasing the victim’s confidence in the investment strategy. However, major structural problems began when he attempted to withdraw his money. Despite multiple attempts, neither the invested principal amount nor the displayed profits could be transferred back to his bank account.
The Multi-Stage Extraction Scheme
According to the complaint, the fraudsters then moved to the next phase of their extortion scheme. A man identifying himself as Arun Rai, who claimed to be a platform manager, contacted Rajkumar and informed him that his credit score was too low to process withdrawals. He told the victim that he would need to deposit ₹8 lakh before any funds could be released.
Believing that the issue was genuine and hoping to recover both his investment and profits, Rajkumar took a bank loan and transferred ₹8 lakh to the account provided by the accused. Even after making the high-value payment, he remained unable to access his funds.
The fraudsters then introduced another requirement, claiming that the victim needed a VIP-level account upgrade before withdrawals could be processed. They demanded an additional ₹7 lakh and assured him that the entire amount, including profits, would be released immediately after the upgrade.
Escalating Fees and Public Defense Advisories
However, each successive payment was followed by new excuses, technical errors, verification requirements, or additional administrative charges. Through a series of such demands, the accused gradually extracted nearly ₹25 lakh from the victim.
Despite the substantial payments, neither the original investment nor the displayed profits were returned. Rajkumar claims that the trading platform continues to show significant profits in his account, but the operators are now demanding an additional withdrawal fee of nearly 25 percent before releasing any funds.
Renowned cyber crime expert and former IPS officer Prof. Triveni Singh said investment and trading scams often follow a predictable pattern. Fraudsters first gain the victim’s trust and then display fake profits to encourage larger investments. Once the victim becomes financially committed, they introduce fabricated charges such as credit score verification fees, taxes, processing charges, VIP memberships or withdrawal fees to keep extracting money.
He advised investors to independently verify any trading platform before investing and to remain cautious of schemes promising unusually high or guaranteed returns. Legitimate financial institutions do not demand repeated, external payments merely to release deposited funds.
Authorities say the first few hours after discovering a fraud are crucial. Citizens are advised to immediately report such incidents through the national cybercrime helpline 1930 and file complaints on the official cybercrime reporting portal to improve the chances of freezing suspicious accounts and recovering lost funds.
