Ludhiana, Feb. 21 -- Another cyber fraud came to light in Machhiwara when a farmer lost Rs.3.72 crore after being lured into a foreign -exchange (Forex) trading scheme on social media. According to the complainant the accused had shown 300 percent growth in his account created on a mobile application to win his trust.

According to the police complaint, 57-year-old Sanjeev Pandhi, a resident of Krishnapuri Mohalla of Machhiwara, was contacted by an unknown woman on the Telegram app. She persuaded him to invest in forex trading, promising threefold returns.

Following her instructions, Pandhi opened a trading account with Admiral Markets Global Limited and transactions began through this account.

He stated that between various dates until...