Faridabad, January 27: A Faridabad-based factory owner has allegedly been cheated of INR 4 crore in a sophisticated cyber investment fraud, highlighting the growing threat of fake online stock trading platforms in the NCR. The victim, Arun Kumar, a resident of Sector 15 who runs a manufacturing unit in the Industrial Model Township (IMT), approached the police after failing to withdraw funds from a platform named “RFX Market,” which promised unusually high returns.

According to the complaint, the fraud began in October 2025 when Kumar received a call from a man identifying himself as Dan Robin, claiming to be a stock market expert. He persuaded Kumar to invest through RFX Market, where an online dashboard initially showed substantial profits, creating confidence and prompting larger investments. Between October 26 and November 7, Kumar transferred nearly INR 4 crore to several bank accounts shared by the accused. Digital Arrest Scam in Mumbai: 75-Year-Old Retired BMC Official Duped of INR 16.5 Lakh by Fake ATS, NIA Officers Over ‘Delhi Bomb Blast Probe’.

Trouble surfaced when Kumar attempted to withdraw the displayed profits. Despite repeated requests, the funds were not released. The fraudsters then demanded additional payments, citing income tax and TDS requirements as a precondition for withdrawal. Sensing foul play, Kumar refused to pay more and reported the matter to the authorities. Mumbai Businessman Duped of INR 11 Crore in WhatsApp Stock Trading Scam, Probe On.

Based on the complaint, Faridabad police registered an FIR under Section 318(4) of the Bharatiya Nyaya Sanhita for cheating, along with relevant provisions of the IT Act. The case is being investigated by the Cyber Crime Central police station. A police spokesperson said investigators are examining call data records and bank transaction trails to identify those involved.

Police say the case mirrors several recent cyber frauds in Faridabad, including one where a local doctor lost over INR 41.5 lakh. Authorities have again urged the public to be cautious of unsolicited investment offers and to verify trading platforms with the Securities and Exchange Board of India before investing.

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(The above story first appeared on LatestLY on Jan 26, 2026 11:35 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).