A Bengaluru resident fell prey to a forex scam and purportedly lost ₹ 92.57 lakh. Over a period of three months, the individual identified as 52-year-old Mustafa Mukandar made multiple payments until he realised that the invested money cannot be retrieved and he had been cheated.

As per NDTV report, an online forex trading scheme run under the names ICON Forex and Forex Wealth lured Mukandar to open an account by paying ₹ 88,000. Attracted by the promises of high returns presented by a man identifying himself as Ramalo Jodara, the Bengaluru man decided to invest in ICON Forex. Eventually, he ended up transferring ₹ 23.21 lakh to the account.

When he tried to withdraw the invested amount, he came across several charges, such as CCT track fees, penalty amounts and GST, and hence was

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