New Delhi, Nov. 18 -- A Bengaluru resident fell prey to a forex scam and purportedly lost Rs.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 Rs.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 Rs.23.21 lakh to the account.

The trace of multiple transfers dates back to August 20. Believing in t...