Two men from Delhi were arrested by the cybercrime wing of Hyderabad police for defrauding a Hyderabad–based businessman of ₹9.5 lakh in a business and investment scam. The police said the duo was involved in at least 17 such cases across India.
The accused, Amarnath Singh, 39 and Ranveer Singh, 46, were taken into custody in this connection. Singh, a resident of Rampal Chowk in Dwarka, styled himself as the CEO of the fraudulent company, while Ranveer Singh, from Palam village in south-west Delhi, was operating as its marketing head.
The arrest follows a complaint by the 32-year-old victim stating that cyber fraudsters conned him after promising to secure business orders for his products. The fraudsters initially contacted the victim over the phone, persuading him to pay registration fee to become their client. They then sent fabricated emails claiming there was a high demand for his products in both national and international markets.
Trusting these claims, the businessman followed their instructions and transferred a total of ₹9,50,531 towards various charges. However, once the payments were received, the fraudsters severed all communication.
Investigation revealed that the fraudsters primarily operated by reaching out to victims through social media platforms and direct calls, pretending to offer guidance on business expansion, trading, and securing international orders. They convinced victims to invest in export businesses, citing high demand, and manipulated them into making payments under various pretexts such as legal and registration fee.
During the operation, police seized four mobile phones along with company registration documents and other materials related to the fraudulent activities, which are being analysed.
Published – March 26, 2025 08:33 pm IST