Shikohabad Man Loses ₹1.11 Crore in Online Trading Scam

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A resident of Shikohabad allegedly lost over ₹1.11 crore after being deceived into investing through a fraudulent online trading platform that promised high returns.

Incident Overview

The victim was initially approached by an individual identified as Aarushi Trivedi, who encouraged him to engage in online trading activities. She presented the opportunity as a low-risk venture with guaranteed financial benefits.

Investment and Deception

The scam unfolded through a series of transactions where the victim deposited a total of ₹1,11,87,401 into the platform. To build trust, the perpetrators allowed him to withdraw ₹1,01,000, which reinforced his confidence in the legitimacy of the operation.

Collapsing Scheme

Subsequently, the victim kept his remaining funds on the platform, believing them to be securely held. The scheme collapsed when the victim requested a full withdrawal of his balance. Instead of facilitating the transaction, the accused parties demanded additional payments, citing fictitious fees and processing charges.

Police Response and Investigation

This marked the point at which the victim recognized the deception. Upon attempting to contact the individuals directly, the victim discovered that their phone numbers were no longer active. This prompted him to file a formal complaint with the Shikohabad police.

Legal Action

Authorities registered a First Information Report under Section 318(4) of the Bharatiya Nyaya Sanhita and Section 66D of the Information Technology Act. Investigations are ongoing, with law enforcement tracing the flow of funds across multiple bank accounts.

Digital Forensics

Digital forensics experts are analyzing transaction records, chat communications, and the technical infrastructure of the CPT Market platform to determine if similar tactics were used against other victims.

Broader Implications

The case highlights the growing prevalence of financial fraud in digital trading ecosystems and underscores the need for heightened vigilance against unsolicited investment propositions.