Nitish (name changed), a new trader with big hopes and dreams of making money through trading, unfortunately fell into the trap of promises for quick gains in forex trading. This led to a loss of over ₹10 lakh.
With the help of our team, Nitish successfully recovered ₹8.10 lakh. Continue reading to learn how he was scammed and how our team assisted him in reporting the case and recovering his hard-earned capital.
Discounts & deals on favorite products push people to buy things they don’t even need. While these offers can be beneficial, they also create the perfect environment for scammers to prey on unsuspecting individuals.
The allure of amazing deals and heavy discounts grabs attention, leaving little time to think critically. This impulsiveness can lead to investments or purchases in schemes that later turn out to be costly mistakes.
One such unfortunate incident happened to Nitish (name changed). Drawn in by the promise of huge returns, he invested a staggering ₹10.50 lakhs in a forex trading app using multiple accounts. What seemed like a golden opportunity quickly turned into a financial nightmare.
This case serves as a powerful reminder of how scammers exploit festive excitement and teaches Nitish—and everyone else—a life-long lesson about awareness and caution one must take while making investment decisions.
Here is the full story and the lessons it holds for all of us.
When Profits Turned into Losses
It all began in October when Nitish desperately looking for an investment opportunity. While searching for a high-return option, Nitish came across a company, Azeesolutions.
The company offers a forex trading platform. As soon as Nitish filled in his details, the executive from the company called him and told him about their plans and benefits.
He mentioned the guaranteed return of 15-17% per annum which grabbed Nitish’s attention. He further explained his profit-sharing model in which he asked Nitish to share the profit in the ratio of 70:30.
To make quick profits, the executive suggested Nitish open multiple accounts. Nitish did the same and shared his and his family members’ details to begin his investment journey.
The executive from Azeesolutions now opened different trading accounts for Nitish in the names of his other family members.
Nitish started transferring the share of investments to all the opened accounts online through the links provided by the executive. To monitor his invested amounts in various accounts he was asked to download a BCTFX App.
For a few initial months, things were good and Nitish was getting profit in his account. The Profit received was not as it was promised, but though he was receiving profit it was fine with him.
After a few months, Nitish stopped receiving profit from the broker. When he enquired about this he was told that the account went to losses so there was no profit.
This thing continued for months. The broker then asked him to upgrade his invested amount and then he could start making a profit again.
As financially Nitish couldn’t invest more he asked to return his investment amount. Now the executives of the company stopped responding to Nitish’s calls and messages.
Disappointed with this behavior, Nitish decided to take action regarding his situation.
How Our Team Helped Nitish in Recovering ₹8 Lakhs from the Scammer?
Nitish was hopeless when the company’s executive stopped responding to his calls and messages.
Fortunately, he came across one of our videos on ‘A Digital Blogger’ YouTube channel where our team helped one person recover the capital that he lost in a similar kind of scam.
This gave Nitish a ray of hope and without wasting any time, he contacted our team.
After listening to his case, our team asked Nitish to collect all the proof related to the fraud and share it with them.
Here’s what our team did to recover the losses.
Reporting the fraud: With the combined efforts of both our team and Nitish, a complaint was filed on the Cybercrime Portal.
Recovery Process: Initially, Nitish was asked to withdraw his complaint from the Cybercrime cell. The Executive insisted on going for a settlement without filing the complaint. Nitish asked for a refund of his total invested amount of ₹10.5 Lakhs but he was defined.
They offered him to pay around ₹2 lakhs as the settlement amount. They tried convincing him several times by saying he would face troubles waste his time in all the legal proceedings and would get nothing at the end.
But still, Nitish was determined to recover his lost money so he rejected the offer and said he wanted a full refund of his amount.
Final Settlement: Finally, after a battle of days, the scammer agreed to recover around 70% losses of Nitish. He agreed to refund Rs 7.18 Lakhs in two installments. Nitish received Rs 5,07,464 in the first installment and the remaining Rs 2,10,551 in the second one.
Conclusion
Nitish’s story is a cautionary tale for all those who are lured by high-return investment schemes. However, his determination and efforts to recover his money paid off in the end and resulted in almost 77% recovery of his money.
To prevent becoming a victim of fraudulent schemes like the one Nitish encountered, Stay vigilant and avoid risky trades offering unrealistic returns on investment.
Are you facing a similar situation and looking for help? Drop your contact details below and our team will contact you to raise concerns about your issue.
