Mumbai Businessman Cheated of Rs 50 Million in Forex Trading Scam

A Mumbai-based businessman was reportedly cheated out of Rs 50 million by online fraudsters who promised high returns on investments. The accused, claiming to be from a US firm, convinced the man to invest in multiple currencies on a fraudulent online platform. 

The victim invested Rs 50 million between April and October this year. After failing to receive any returns, he approached Naupada police station. The Economic Offences Wing of Thane Police is investigating the case.

This case serves as a stark reminder to exercise vigilance and conduct thorough due diligence before committing to any online investment schemes and forex trading platforms, especially when approached by unfamiliar entities or individuals.