A 50-year-old businessman from Bengaluru has reportedly lost Rs 89 lakh over two months to an online trading scam operated through a fraudulent platform. The victim, Sunil (name changed), has filed a complaint with the East CEN crime police after realising he had been duped, the Times of India reported.
According to the complaint, Sunil came across a Facebook advertisement promoting high returns via a platform named ‘FXROAD @FXRoad_Account_Mngr_bot’. After registering through a free link, he was contacted by a woman who persuaded him to invest Rs 17,000. The next day, another individual urged further investment, showing a credit of about Rs 4,300 on the portal and promising daily profits.
Encouraged by the apparent gains, Sunil continued investing, unaware that the profits displayed were fictitious. When he attempted to withdraw his earnings—about Rs 14.7 lakh—he was told he had incurred a loss of about Rs 6.5 lakh and was in deficit.
Despite growing doubts, the Bengaluru businessman was manipulated into depositing up to Rs 21.7 lakh with promises of Rs 8 lakh profit in a single day. Three weeks later, he invested a lump sum of Rs 43 lakh, hoping to recover his losses. The scammers cited market fluctuations and delayed withdrawals, later demanding an additional Rs 2.6 crore, which he refused, the Times of India reported.
When Sunil insisted on retrieving his funds, the fraudsters began issuing threats of legal action. He eventually contacted the cyber helpline and approached the police.
The East CEN crime police have launched an investigation into the matter.
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