NRI Loses Over Rs 2.11 Crore In Fake Forex Trading Scam In Keralam

An NRI from Keralam’s Ernakulam district has allegedly lost more than Rs 2.11 crore in an online forex trading scam after fraudsters lured him into investing through a fake trading platform.

The 41-year-old man, a native of Kunnathunadu in Ernakulam, is currently residing in the United States, police said on Thursday.

According to the Ernakulam Rural Cyber Crime Police, the victim came across a link to a website named ‘Handtec Markets’ online.

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He was subsequently added to a Telegram group, where the accused shared another link claiming to represent ‘Handtec Markets Global LTD’. The link redirected him to a fake forex trading platform.

The fraudsters allegedly guided the man through Telegram and provided him with login credentials to access the platform.

Believing it to be a genuine investment opportunity, he began transferring money from his bank accounts to accounts specified by the accused.

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Police said the transfers had been made on several occasions since October 2025. The total amount allegedly transferred was Rs 2,11,35,077.

The fraud came to light when the victim recently tried to withdraw his investment. However, neither the principal amount nor the promised profits were returned.

The Ernakulam Rural Cyber Crime Police registered a case on Wednesday based on a complaint filed by a friend of the victim.

The case has been registered against unidentified persons under relevant sections of the Bharatiya Nyaya Sanhita and the Information Technology Act.

Police said there was a delay in reporting the fraud. Investigators are currently tracking the bank accounts to which the money was transferred and are working to freeze them at the earliest.

(With inputs from agencies)