An Agra resident has allegedly lost nearly ₹25 lakh after being lured into a fake forex trading scheme through an online platform that displayed artificial profits but blocked withdrawals.
A cyber fraud case has been registered based on a complaint filed by Rajkumar, a resident of Awas Vikas Colony.
According to the complaint, the scam began in January 2026 when a woman identifying herself as Sunita Verma from Mumbai contacted him and gradually introduced him to forex trading.
Fake Profits Used to Build Trust
The woman reportedly told Rajkumar that forex trading was safe and highly profitable.
After several conversations, she convinced him to register on an online trading platform and start investing.
On January 5, Rajkumar invested an initial amount of ₹10,000.
For the first few days, the app showed attractive profits, making the platform appear genuine.
Withdrawals Blocked After Initial Investment
The problem began when Rajkumar attempted to withdraw his funds.
Despite repeated attempts, he was unable to transfer either his original investment or the profits shown on the platform to his bank account.
Soon after, another person identifying himself as Arun Rai contacted him and claimed to be the platform manager.
He told Rajkumar that his credit score was too low to process withdrawals.
₹8 Lakh Demanded for Credit Score Clearance
According to the complaint, the alleged platform manager demanded ₹8 lakh to fix the withdrawal issue.
Believing the claim and hoping to recover his money, Rajkumar took a bank loan and transferred ₹8 lakh to the account provided by the accused.
Even after making the payment, his funds were not released.
VIP Upgrade Fee Added to the Trap
The fraudsters then claimed that Rajkumar needed to upgrade his account to VIP status before withdrawals could be processed.
They demanded another ₹7 lakh and assured him that the full amount, including profits, would be released after the upgrade.
However, after each payment, new excuses were created.
The accused allegedly cited technical issues, verification charges, processing fees and other administrative requirements.
Total Loss Reaches Nearly ₹25 Lakh
Through repeated demands, the fraudsters allegedly extracted nearly ₹25 lakh from Rajkumar.
Even after these payments, neither his original investment nor displayed profits were returned.
The fake trading app reportedly continues to show large profits in his account, but operators are now demanding an additional withdrawal fee of nearly 25 percent before releasing funds.
Experts Warn Against Fake Trading Platforms
Cybercrime expert and former IPS officer Prof. Triveni Singh said fake trading and investment scams often follow a predictable pattern.
Fraudsters first gain trust, show fake profits and encourage larger payments.
Once the victim is financially committed, they introduce fake charges such as credit score fees, tax payments, processing fees, VIP memberships or withdrawal charges.
He advised investors to independently verify trading platforms before investing.
Legitimate financial institutions do not demand repeated external payments just to release deposited funds.
Report Fraud Quickly
Authorities say the first few hours after discovering online fraud are crucial.
Victims should immediately report the matter through the national cybercrime helpline 1930 and file a complaint on the official cybercrime reporting portal.
Quick reporting can improve the chances of freezing suspicious accounts before stolen money is moved further.
Why Financial Tracking Matters
Fake trading scams often involve multiple transfers, false dashboards and confusing payment trails.
Maintaining accurate transaction records can help victims and investigators trace money movement faster. Professional bookkeeping services in india can help businesses organise financial data, monitor unusual payments and maintain compliance-ready records.
Shunyatax Global Insight
At Shunyatax Global, we believe financial awareness is the strongest defence against digital investment fraud. Any platform promising guaranteed profits while demanding repeated fees for withdrawals should be treated as a red flag.
For more updates on cybercrime, taxation, compliance and business finance, visit Shunyatax.in and stay connected with Shunyatax Global.