Hyderabad: Business Scam Accused Held in B2B Fraud Case

One Arrested in ₹1.11 Crore Online Trade Scam

The Cyber Crime Police, Hyderabad, arrested one person in connection with a Business-to-Business (B2B) import-export scam, in which a victim was duped of over ₹1.11 crore. The arrested accused, Paras Singla (29), a resident of North West Delhi, was nabbed in Cr.No.1004/2025. He, along with two absconding accused Mahesh Singla and Lakshya Verma allegedly posed as representatives of a New Delhi-based firm Trade Fundamental Pvt. Ltd. and a fictitious Hong Kong company, ACES TRADING, to commit fraud.

The complainant was convinced to transfer multiple payments on the pretext of processing charges, legal fees, and order confirmations for a spirulina powder deal. The accused promised a refund after the deal was finalized. When the refund was not honoured and ACES TRADING was found to be non-existent, the complainant filed a complaint leading to the investigation and arrest.

How the Fraud Was Executed

Police said the fraudsters impersonated legitimate companies and used high-pressure tactics to demand large upfront charges. Bogus entities were floated to lend credibility. Victims were told they were entering into high-value B2B agreements. Once the money was transferred, all communication was cut off.

Cyber Crime Police seized 30 mobile phones, three SIM cards, and one debit card from the accused. The case was detected by the team led by Inspector K. Madhusudhan Rao, assisted by SI K. Venkatesh and police personnel Sandeep, Sampath, Venkatesh, and Farooq.

Authorities urged the public to verify company credentials, refrain from paying advance fees without verification, and avoid transferring funds to personal accounts. Victims are advised to call helpline 1930 or visit cybercrime.gov.in for assistance.