In a significant breakthrough, the Hyderabad Cybercrime police arrested two individuals from Delhi involved in a business and investment fraud. The duo had recently duped a 32-year-old businessman from Hyderabad, swindling him of Rs 9.5 lakh by promising business orders for his products.
The arrested suspects have been identified as Amarnath Singh (39), a resident of Dwarka, and Ranveer Singh (46), a resident of South West Delhi. Both men are reportedly involved in 17 cases of fraud across India, including one case in Telangana.
According to Cybercrime officials, the suspects used social media platforms, phone calls, and messages to contact potential victims. They lured them with promises of lucrative business orders, claiming to help with trading, customer acquisition, and business development. However, once the victims were convinced to invest, the fraudsters convinced them to pay various charges for legal, registration, and other purposes, before eventually cutting off communication.
These suspects have been linked to fraud cases in Telangana, Maharashtra, Rajasthan, Haryana, West Bengal, Bihar, Uttar Pradesh, Punjab, Delhi, Karnataka, and Madhya Pradesh. Further investigations are underway.
