Hyderabad cybercrime police arrest two in business and investment fraud case

Hyderabad: The Cyber Crime Police in Hyderabad have arrested two individuals in connection with a business and investment fraud case that defrauded a local businessman of over ₹9.5 lakh.

The accused, Amarnath Singh (39) from Rampal Chowk, Sector-7, Dwaraka, Delhi, and Ranveer Singh (46) from Palam Village, South West Delhi, are charged with deceiving the victim through fake business promises.

According to the victim, a 32-year-old businessman from Hyderabad, the fraudsters first contacted him via mobile phone and claimed they could provide lucrative business orders for his product. The victim, believing their promises, agreed to pay registration charges to become their client Subsequently, the fraudsters sent fake emails assuring him of significant demand for his product both nationally and internationally.

Trusting their claims, the victim paid ₹9,50,531 towards various charges. However, after receiving the money, the fraudsters abruptly ceased communication, and the victim realized he had been deceived. He subsequently filed a complaint with the Cyber Crime Police.

A case was registered under sections 66(C), 66(D) of the Information Technology Act, and sections 318(4), 319(2), 111(2)(b) of BNS at the Cyber Crime Police Station in Hyderabad.

Amarnath Singh, the 39-year-old CEO of the fraudulent company, and Ranveer Singh, the 46-year-old Marketing Head, are believed to be behind the scam. The accused have been implicated in similar cases across multiple states in India. Their criminal activities have been linked to 17 cases, including two in Maharashtra, five in Rajasthan, and additional cases in Haryana, West Bengal, Bihar, Uttar Pradesh, Punjab, Delhi, Karnataka, and Madhya Pradesh, along with one case in Telangana.

The fraudsters typically targeted victims through social media platforms, contacting them through calls and messages. They persuaded victims to invest in what they claimed was a high-demand export business, asking for upfront payments in the form of registration and other fees. Once the payments were made, the fraudsters cut off all communication with the victims, leaving them defrauded.

The police seized four mobile phones and company registration documents during their investigation. The team, led by Inspector K. Prasada Rao, was instrumental in cracking the case, with assistance from PCs G. Kranthi Kumar Reddy, A. Satish, S. Srinivas Reddy, J. Venkatesh, and G. Rakesh.

Arrest of Two in Business & Investment Fraud

Hyderabad Cyber Crime Police arrested two accused, Amarnath Singh (39) and Ranveer Singh (46), for defrauding businessmen with fake investment schemes. The accused, involved in 17 cases across India and one in Telangana, lured victims… pic.twitter.com/BzMKcZKIOW

— Hyderabad Mail (@Hyderabad_Mail) March 26, 2025

Authorities are advising business owners to be cautious when approached with promises of easy business opportunities. Before making any payments, it is essential to verify the authenticity of the company or individuals offering business deals. Official sources should be consulted, and large upfront payments should be avoided, as legitimate business deals rarely require such payments. Additionally, victims are advised to be wary of unsolicited calls, emails, and messages that claim to offer unrealistic business opportunities.

For immediate assistance in case of cybercrime, victims can call 1930 or visit cybercrime.gov.in.