US-based NRI loses Rs 2.11 crore in forex trading fraud through fake Handtec Markets platform

A 41-year-old Non-Resident Indian (NRI) from Kunnathunadu, currently residing in the US, has allegedly lost Rs 2.11 crore in an online forex trading fraud involving a fake investment platform, police said on Thursday.

The Ernakulam Rural Cyber Crime Police registered a case on Wednesday following a complaint filed by a friend of the victim.

As per PTI, the police detailed that the NRI came across a website link for 'Handtec Markets' online, following which he was added to a Telegram group. The accused later shared another link, claiming it belonged to 'Handtec Markets Global LTD', which redirected him to a fake forex trading website.


The fraudsters allegedly guided him through Telegram and provided login credentials. Since October 2025, he transferred money from his bank accounts to accounts specified by the accused on several occasions.

The total amount allegedly invested was Rs 2,11,35,077. The fraud came to light when he recently attempted to withdraw his money but received neither the principal nor the promised profits.

A case has been registered under relevant sections of the Bharatiya Nyaya Sanhita and the Information Technology Act against unidentified persons.

Police said there was a delay in reporting the fraud. They are tracing the recipient bank accounts and attempting to freeze them.