Surat web designer held for forex fraud, duped city doctor of 2 crore

Central Crime Station (CCS) investigators arrested a web designer from Surat, Gujarat on Saturday for allegedly defrauding a doctor in Hyderabad of Rs 2 crore through forex trading.

According to CCS officials, the 23-year-old suspect, Aamir Arif Aghadi, and his accomplices entice innocent individuals to invest in forex trading. The fraudsters create accounts and provide potential investors with access to a “special” software. Aamir and his associates manipulate the software and deceive the victim, P Dinesh of Trimulgherry, by displaying false account balances.

Initially, Aamir paid Dinesh up to 25% in profits. Trusting that Aamir and his associates were legitimate businessmen and that his investment could be tracked on a daily basis, Dinesh invested a total of Rs 2 crore.

“The accused, Aamir and others, would introduce themselves using fake identities when communicating with victims. They would require victims to make payments through unauthorized channels such as hawala, claiming it was to avoid taxes. However, once the money was collected, they would start evading the victim,” the police stated in a press release. Aamir was apprehended in Surat and was transported to Hyderabad on a prison transit warrant on Saturday.