Ahmedabad Assistant Professor loses Rs 70,000 in Forex trading scam

Ahmedabad: An assistant professor associated with U N Mehta Hospital in Ahmedabad has allegedly been duped of Rs 70,000 in a Forex and cryptocurrency investment scam operated through Telegram. 

The victim, an Assistant Professor in the Cardiac Anaesthesia department and a resident of the postgraduate hostel at U N Mehta Hospital in Asarwa, was allegedly targeted through an online investment group promoting high-return trading schemes.

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According to the complaint, the doctor had been following a Telegram group titled “Trade Like Berlin”, which regularly shared discussions on Forex trading, stock markets, and online investment opportunities. Police believe the group was part of a wider fraud network designed to attract and trap potential investors using fake trading narratives.

On April 27, while he was inside the hospital premises, the doctor allegedly received a direct message on Telegram from a user identifying himself as “Berlin”. The person claimed to be an experienced Forex trader and assured him that short-term investments in currency trading could generate unusually high profits.

Believing the claims, the victim first transferred Rs 50,000 via UPI to an account linked with the ID “rajbairwa211@axl”. Shortly after, he was persuaded to send another Rs 20,000 to a second UPI handle, bringing the total amount to Rs 70,000.

Investigators say the fraudsters maintained regular contact after receiving the money and shared fabricated trading dashboards, fake profit screenshots, and digital invoices. These reports falsely showed that the investment had grown to over Rs 3 lakh within hours, creating an illusion of successful trading.

Encouraged by these claims, the victim initially believed the investment was legitimate. 

However, the matter reportedly became suspicious when the fraudsters demanded more than Rs 50,000 as GST and processing charges before releasing the so-called profit amount. The accused allegedly claimed that the payment was mandatory for withdrawing the returns and insisted that the entire profit would be credited immediately after the tax was cleared. Repeated demands for additional charges eventually raised doubts in the victim’s mind, reports 420.

Realising something was wrong, the complainant consulted acquaintances, who advised him that it was likely a cyber fraud. He then contacted the national cybercrime helpline 1930 and filed a complaint on the official cybercrime reporting portal before approaching the police.

Cybercrime officials said Telegram-based investment frauds involving Forex, crypto, and stock trading schemes have increased sharply in recent months. Fraudsters typically use fake testimonials, manipulated profit charts, and professional-looking groups to create credibility and lure victims into repeated payments.

Speaking to 420, renowned cybercrime expert and former IPS officer Prof. Triveni Singh said such scams are largely driven through social engineering tactics, where criminals exploit greed, urgency, and trust built through social media interactions. He warned that encrypted platforms like Telegram are increasingly being used by cyber fraudsters because they allow anonymous communication and make tracing operations more difficult.

Police have registered a case against unidentified persons under relevant sections of cyber fraud and the Information Technology Act. Investigators are now tracing UPI transactions, Telegram accounts, and banking trails to identify those involved. Authorities believe similar networks may be targeting professionals and young investors across multiple cities in India.

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