42-Year-Old Account Manager Falls Victim to Ahmedabad

An Investigative Breakdown of a Forex Scam

In the bustling city of Ahmedabad, where commerce thrives and financial expertise is celebrated, a shocking tale of deception has surfaced. Nitin Bhatt, a seasoned account manager with a background in finance, found himself ensnared in a meticulously orchestrated forex trading scam. This case not only highlights the vulnerabilities of even the most financially literate individuals but also underscores the growing sophistication of online fraudsters.

Key Takeaways:

A 42-year-old finance professional was targeted in a forex trading scam through a fake platform mimicking legitimacy.
Scammers used small wins and seamless withdrawals to build trust, leading the victim to invest Rs 11.6 lakh over two months.
The platform displayed fake profits of $60,643, but withdrawal attempts were blocked with demands for additional “tax payments.”
The victim reported the scam to the Ahmedabad Cyber Cell, initiating an investigation into the fraudsters’ money trail and tactics.
This case underscores the need for vigilance in online trading, as even financially literate individuals can fall prey to scams.

The Perfect Target: How Expertise Became a Liability

Nitin Bhatt, 42, was an unlikely victim. Residing in Chandkheda and employed at a private firm in Prahladnagar, his professional experience in finance seemingly made him immune to scams. Yet, this very expertise became the entry point for fraudsters. In early June 2025, Bhatt received a message on Telegram from an unknown user with the ID ‘Athulyanz.’ What followed was a calculated effort to build trust and lure him into a fraudulent forex trading platform posing as Darwinex Global.

The scammers leveraged Bhatt’s familiarity with trading systems, presenting a convincing interface that mimicked legitimate forex platforms. By targeting an individual with financial knowledge, they tailored their tactics to ensure credibility—a chilling reminder that no one is truly safe.

A Web of Deception: The Scam Unfolds

Step 1: Building Trust Through Small Wins

The initial interaction seemed harmless enough. Bhatt registered on the fake Darwinex Global website, providing his name, email, and identity proof as instructed. His first investment of Rs 20,000 appeared to yield profits, displayed prominently on the platform’s interface. This early success was no accident—it was a deliberate ploy to instill confidence.

Step 2: Reinforcing Credibility

In a strategic move, the scammers allowed Bhatt to withdraw his initial Rs 20,000 investment. This quick and seamless withdrawal solidified his belief in the platform’s legitimacy. It’s a tactic commonly employed by fraudsters—give the victim a taste of success before escalating demands.

Step 3: Escalating Investments

Encouraged by apparent profits, Bhatt began transferring larger sums. Over two months, between June 6 and August 6, 2025, he invested a staggering Rs 11.6 lakh across multiple transactions. The fake platform displayed escalating profits, reaching an impressive $60,643 by the end of this period. The interface continued to simulate legitimate trading activity, keeping Bhatt hooked.

The Turning Point: When Greed Meets Reality

When Bhatt attempted to withdraw his displayed $60,643 profit, he hit a wall. The scammers demanded an additional Rs 10.82 lakh as a “tax payment” before processing the withdrawal. This demand shattered the illusion of legitimacy. Refusing to comply with the exorbitant tax request, Bhatt sought a refund of his principal investment—only to be met with silence.

The funds were locked on the platform, confirming what Bhatt had feared but hoped wasn’t true: he had been duped.

The Aftermath: Seeking Justice

On October 13, 2025, Bhatt took decisive action. He contacted the national cyber helpline (1930) and filed a complaint with the Ahmedabad City Cyber Cell. The police registered an FIR against unidentified individuals under sections for cheating, criminal conspiracy, criminal breach of trust, Bharatiya Nyaya Sanhita, and the Information Technology Act.

Investigators are now tracing the money trail—examining bank accounts linked to the fraud ring, Telegram IDs used for communication, and IP addresses associated with the scam. While justice may take time, Bhatt’s case serves as a stark warning about the perils of online trading schemes.

Key Insights: What Can We Learn?

Even Experts Are Vulnerable: Financial literacy doesn’t guarantee immunity from scams. Fraudsters exploit trust and familiarity with systems to deceive victims.
Trust-Building Tactics Are Effective: Allowing small withdrawals or showing fake profits are common strategies to manipulate victims into larger investments.
Verify Platforms Before Investing: Always research trading platforms thoroughly. Check for regulatory approvals and reviews from trusted sources.
Act Quickly in Case of Fraud: Contact cybercrime authorities immediately if you suspect foul play. Time is critical in tracing money trails and identifying perpetrators.

Conclusion: A Wake-Up Call for Investors

Nitin Bhatt’s story is more than just a cautionary tale—it’s a call to action for all investors navigating the digital landscape. As scams grow increasingly sophisticated, vigilance is paramount. The allure of quick profits can blind even the most seasoned professionals to red flags.

So ask yourself: Are you adequately protecting your investments from deception? Let Bhatt’s experience remind us that in the world of online trading, skepticism is often your strongest ally.