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Keralam NRI Loses Rs 2.11 Crore to Fake Forex Trading Platform
Sentiment: NeutralHigh Priority
What Happened?
A 41-year-old Keralam NRI in the US lost over Rs 2.11 crore after being lured into a fake forex trading platform. Police are investigating the case.
Key points
- The victim, a 41-year-old from Kunnathunadu, was duped into investing in 'Handtec Markets'.
- He transferred a total of Rs 2,11,35,077 since October 2025.
- The fraud was discovered when he attempted to withdraw his funds.
- Police have registered a case under the Bharatiya Nyaya Sanhita and the Information Technology Act.
- Efforts are ongoing to trace and freeze the accounts involved.
Key insights
- The case underscores the need for increased awareness about online scams.
- Victims of such frauds may face challenges in recovering lost funds.
- Regulatory bodies may need to enhance monitoring of online trading platforms.
Why it matters
This incident highlights the risks associated with online investment platforms.
Entities
Keralam· LocationErnakulam· CityHandtec Markets· Company
Source
India Today
