50-year-old businessman looking for bride loses Rs 56 lakh in forex trading scam

Bengaluru: A 50-year-old businessman, searching for a life partner on a matrimonial platform, ended up losing nearly Rs 56 lakh to fraudsters, who allegedly lured him into a fake Forex trading scheme with promises of huge profits.

Kalyan (name changed), a resident of Rajarajeshwarinagar, told police the fraud began on March 10 when he was searching for a bride and found a profile in the name of Chaithra. He showed interest in the profile and sent a message.

Chaithra accepted his request and exchanged messages with Kalyan. She claimed to be working in Mumbai and gradually gained his trust through WhatsApp chats. After promising to meet Kalyan to take the marriage proposal forward, she introduced him to forex trading and convinced him he could earn massive returns through online investments.

The accused shared screenshots showing fake trading profits of others and persuaded him to register on a website named “m.ftmohub.cc” by sending the link. Chaithra promised to guide him and later introduced him to so-called advisors of the firm. Initially, Kalyan invested Rs 50,000 and the platform displayed attractive profits, making the investment appear genuine.

Encouraged by the apparent returns, Kalyan continued investing larger amounts through RTGS and IMPS transfers into multiple bank accounts provided by the fraudsters. However, when he later attempted to withdraw the profits and the money invested, the fraudsters demanded additional payments, claiming they were required for processing tax and release of funds. Kalyan then requested them to return the invested money without profit, which they refused.

Realising he had been cheated, Kalyan approached police after losing close to Rs 56 lakh. A senior officer said a case has been registered under Information Technology Act and BNS Sections 318 (cheating) and 319 (cheating by personation).