Ahmedabad businessman cheated of ₹1.5 crore in online trading scam, FIR at Cyber Crime police station

An Ahmedabad-based businessman has complained to the Cyber Crime police station, alleging that he was duped of over ₹1.51 crore in a sophisticated online trading fraud operated through a fake platform named MetaX Option.

As per the FIR, the complainant, identified as Murli Pokardas Mulchandani, a resident of Bodakdev and owner of Oriental Caps and Closures, was first contacted in January 2025 via WhatsApp by one Nalin Chira, who claimed to be based in Bangkok. Posing as a trader dealing in artificial flowers, Chira introduced Murli to an online commodity and cryptocurrency trading application, assuring high returns on investment.

Over the following weeks, Chira, along with associates using the names Amelia Loughty, Bryan Camerone and Paul J Tudor, convinced the complainant to register on the fraudulent platform “MetaX Option – Your Ultimate Choice of Trading.” They allegedly provided login credentials, trading tutorials, and even a fake Silver Membership Business Agreement, designed to gain the businessman’s trust.

Encouraged by small initial profits, Murli began depositing larger sums into multiple bank accounts provided by the accused. Between June 25 and July 16, he transferred a total of ₹ 1.51 Crore through several transactions. While he was able to withdraw ₹47.05 lakh initially, the remaining ₹ 1.04 Crore, along with purported trading profits amounting to over ₹2.73 crore, were never returned.

When Murli pressed for refunds, the accused allegedly sent him a forged “MetaX Option Refund Letter” claiming losses but promising repayment, which never materialised.

Realising that he had been duped, Murli reported the matter to the national cyber fraud helpline (1930) and subsequently filed a detailed complaint at the Ahmedabad Cyber Crime Police Station. The case has been registered under sections relating to criminal conspiracy, cheating, and breach of trust.

The investigation officer has confirmed that the investigation has been initiated. Police said they are tracing the bank accounts and mobile numbers used by the accused, including the international numbers from which the initial WhatsApp messages originated.

The complainant has also shared transaction records, WhatsApp conversations, and copies of the forged agreements as evidence. Police suspect the scam to be part of a wider international racket targeting Indian investors through fake trading platforms.