A case has come to light in Gurugram where a retired colonel was defrauded of approximately Rs 25,000,000 in the name of forex trading. The Sector-29 police have registered a case and launched an investigation. Meanwhile, the Station House Officer of the Sector-29 police station stated that a case has been registered following an investigation by the Economic Offences Wing. The matter is under investigation and the accused will be arrested soon.

The Alleged Fraudster

Retired Colonel Vimal Narang, a resident of Phase-2, Chakarpur, stated that his acquaintance, Sagar Raj, had approached him some time ago and asked him to deposit money for an investment. An acquaintance, who claimed to be a company director, allegedly committed the fraud.

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Modus Operandi: Promises Of Triple Returns

He was reportedly defrauded by being lured with the promise of substantial profits for many investors. He was shown screenshots of money received by other investors and was told he could triple his returns. The retired colonel was then persuaded and transferred the money online.

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The Financial Loss And Aftermath

He also stated that he had invested approximately Rs 15,000,000 which he had received last month from the sale of a flat. After investing Rs 25,000,000, he was unable to withdraw his profits when he tried. Subsequently, the accused also stopped answering his phone calls.