Romance Meets Forex Fraud: Noida Victim Suffers Huge Loss on Fake 'Finalto' Platform

A 40‑year‑old businessman from Noida, India, has fallen victim to a months‑long online investment fraud that combined romance with trading deception.

The case began in late June when he accepted a Facebook friend request from a woman identifying herself as “Sunaina Sharma”. Their conversations soon shifted to WhatsApp, where she introduced him to a forex trading platform called “Finalto”. Claiming daily returns of 15–20%, she shared screenshots of trading dashboards and wallet balances to build trust.

On July 4, the businessman invested ₹50,000. Encouraged to reinvest, he was shown fabricated profit statements suggesting exponential growth. Between July and October, he transferred money 17 times, often borrowing funds to invest. His account appeared to swell to nearly ₹79 million, but every withdrawal attempt failed. When he questioned the inconsistencies, he was blocked on WhatsApp and Facebook.

Investigators say each deposit was routed through multiple accounts, complicating recovery efforts. They are now tracing the suspect’s digital footprint across social media, WhatsApp communications, and banking trails.

BrokersView Reminds You

The platform “Finalto” in this case is believed to be an impersonator of the FCA‑authorised firm Finalto Financial Services Limited (Finalto). The FCA has previously warned against a clone of Finalto. Indian authorities caution that scammers often mimic licensed trading interfaces to exploit victims’ limited ability to verify authenticity.

Be sceptical of fast-moving relationships and always verify identities. Never transfer funds, cryptocurrency, or gift cards to someone you only know online, and avoid engaging in investment schemes they recommend.

Report fraud to BrokersView for assistance and public exposure.