Faridabad man duped of ₹4 crore in stock market scam, probe on

Police said preliminary investigations revealed that Kumar got encouraged into investing the money after his investments showed false profits.

Faridabad: The Faridabad police on Saturday launched an investigation after a businessman was allegedly duped of ₹4 crore in a stock investment scam last year, officials said on Sunday.

Police said further investigation remains underway (Representative photo)

Police said the victim was identified as Arun Kumar, a factory owner in IMT and resident of Sector 15.

According to investigators, the factory owner was first contacted by the cyber fraudsters in October 2025 through a phone call, claiming to be an “expert” stockbroker named “Dan Robin”.

“According to Kumar’s complaint, he was promised double returns on his investment through a stock trading platform called ‘RFX Market’. Between October 26 and November 7, 2025, Kumar deposited about ₹4 crore into multiple bank accounts specified by the fraudsters,” a senior officer at cyber crime police station said, requesting anonymity.

Police said preliminary investigations revealed that Kumar got encouraged into investing the money after his investments showed false profits. “However, when he decided to withdraw his money, he was informed that he would need to pay income tax and TDS first. Soon, he realised that he had been scammed, and filed a formal police complaint last week,” said Yashpal Yadav, public relations officer of Faridabad police.

According to Yadav, an FIR was registered against the unidentified suspects on Saturday under Section 318(4) (provisions of cheating) of the Bharatiya Nyaya Sanhita (BNS) and the IT Act at the cyber crime central police station.

“Through call records and bank account information, we are trying to ascertain their identities. The suspects will be nabbed soon,” Yadav added.