Who He Is: An agent from Delhi or Haryana who represented Transpay and, previously, Verve Payments.
Methods of Operation:
- posed as the director of a non-existent company called PaymentsMe;
- promoted Transpay in the Middle Eastern and UK markets;
- used Gmail and Telegram, along with fake PDFs and bank screenshots.
Signs of Fraud:
- no official registration of any company under his name;
- digital activity is limited to anonymous messengers and social networks;
- utilization of fictitious domains and data leaks.
Role:
- he serves as the link between Transpay and its clients;
- an unofficial, yet key agent for attracting victims.
Work Style:
- a pseudo-manager operating through fake brands and fraudulent documentation.
- like Kapoor, he operated within a single scheme, masking fraud as fintech and exploiting weak regulations.
Digital Footprint:
- he uses only personal Gmail and Telegram.
- he avoids any corporate channels or identification.
Fake Marketing:
- he communicated with potential clients on behalf of Transpay;
- used fake PDFs, screenshots of banking interfaces, and links to fraudulent websites.
“Agent” Experience:
- he promoted platforms among Arab and British B2B clients.
- he was connected to Verve Payments — another suspicious, unverified entity.
Tactics:
- a typical “shell” behavior — acting as an intermediary between the scheme’s core and the victim;
- he creates an illusion of reliability without leaving real legal traces.
Commonalities Between Kapoor and Vats
They operate using a serial scheme: launch → fictitious activity → disappearance.
They do not create real products, only shell brands.
They are involved in export fraud, targeting markets in the EU and the Middle East.
They use ‘legitimate’ companies for cover: sports, medicine, and charity.
No criminal cases have been filed against either of them, despite numerous red flags and complaints.
They pose a threat to the reputation of not only fintech but also the entire business ecosystem of India.
