2 persons from Delhi held in Hyderabad for committing investment fraud

Amarnath Singh and Ranveer Singh, both residents of Delhi, were allegedly involved in 17 cases across India and one case in Telangana, the police said. Amarnath Singh was a CEO of a company while Ranveer Singh was working as a marketing head of the company.

The police said a 32-year-old businessman from Hyderabad complained that the cyber fraudsters contacted him over mobile and lured them to provide business orders to the complainant’s product, accordingly he believed and paid registration charges and became their client.

Later, fraudsters sent fake emails by stating that there is huge demand for the complainant’s product in the national and international market. Believing them, the complainant paid an amount of rupees Rs.9.50 lakh towards charges.

After receiving the amount, the fraudsters disconnected liaison with him, then the complainant realized that he was cheated by them and lodged a complaint. The accused were in two cases in Maharashtra, five in Rajasthan, two in Punjab, one each in Haryana, West Bengal, Bihar, Uttar Pradesh, Delhi, Karnataka, Madhya Pradesh and Telangana. Four mobile phones and company registration and other documents were seized from the possession of the arrested persons.