IT Companies and Freelancers Scam: Beware of Fraudsters
Introduction
Scammers are targeting IT companies and freelancers with fraudulent schemes. IT Companies and Freelancers Scam is on the rise, and this article highlights a real-life example to protect you from falling victim.
How IT Companies and Freelancers Scam Works
- Posting High-Budget Projects
Scammers post projects with budgets exceeding $30,000 on reputable freelance platforms to lure service providers. - Direct Contact
Once the project is cancelled on the platform, they contact service providers directly and convince them to use their fraudulent bidding platform, Lancerspace. - Request for Security Deposit
The scammers promise a 25% advance payment but demand a $1,000 deposit as a “guarantee.” After receiving the deposit, they disappear without providing the project.
Case Study: Avoiding an IT Companies and Freelancers Scam
Our company, Doyenhub Software Solution Pvt Ltd, encountered this scam while bidding on a web development project. Here’s how it unfolded:
- A buyer named Amit Lama contacted us after canceling the project on the freelance platform.
- He insisted we bid on the project through Lancerspace.com and pay a $1,000 deposit for a $30,000 project.
- The company name provided was Build Your System Pvt. Ltd., and the website was www.bysfoundation.com.
- Suspicious of their credentials, we requested their Certificate of Incorporation and PAN Card. The buyer stopped responding.
Our team investigated further, visiting their listed office address at P-121, Lake Town, Kolkata, only to discover it was fake. Thankfully, we avoided losing $1,000.
Red Flags of IT Companies and Freelancers Scam
- Unrealistic Budgets: Projects with unusually high budgets are often scams.
- Insistence on Third-Party Platforms: Scammers push you to use unknown platforms like Lancerspace.
- Demand for Upfront Deposits: Legitimate clients rarely ask for security deposits.
- Fake Company Details: Scammers provide non-existent office addresses and unverifiable contact details.
How to Stay Safe
- Verify Credentials
Ask for legal documents like the Certificate of Incorporation, PAN, or GST details. - Avoid Deposits
Never pay security deposits for a project. Genuine clients do not ask for this. - Research Thoroughly
Check the company’s online reviews, address, and reputation. Use tools like Google Maps to verify office locations.
Contact Details of the Fraudsters
- Name: Amit Lama
Title: Director – Technology Implementation
Email: amit.lama@bysfoundation.com
Phone: +91 8420818425 - Name: Abhishek Gupta
Email: project.manager@bysfoundation.com
Conclusion
Fraudulent activities targeting IT companies and freelancers are rising. Scammers like Byserp and Build Your System Pvt. Ltd. use platforms like Lancerspace to trick service providers. Stay vigilant, verify credentials, and avoid financial losses. Share this warning to protect your peers and ensure a safe professional environment.
If you check the whois records of both companies then they are registered on
Creation Date: 07 Jun & 11 June 11
with expiration Date: 07 Jun 12 & 11 June 12
So even domains are kind of fake I think.
Beware jumping in this market 🙂
Exactly the same thing happened to us. Of course we didn’t pay $1K because the credentials on his website are all fake (see “credibility” tab).
1) Certificate of Incorporation fake/unreadable
2) ISO 9001 really belongs to http://www.ishikatech.com (compare the images! 🙂
3) Microsoft and IBM partner IDs are fake
Thanks to add more evidence. Wish none should be a victim of this scam.
Same happened to us also, but we didn’t deposit $1000 and asked for incorporation certificate. They didn’t reply after that.
Sorry to say the I have become a victim to this scam.
Only if I had researched a bit more on this company we should have been saved from paying them $1000.
Can’t we do something about this company and about LancerSpace?
Hi Yogesh,
I think you need to contact Crime department in your city. Please get advice from expert Advocate (Crime case expert) before file any report.
If you are in Surat, I can give you contact of Crime case expert Advocate whom I know.
For Cyber crime report, you can refer below link..
http://indiacyberlab.in/cybercrimes/report.htm
Thank you
http://www.trimantra.com
Hi Yogesh,
This is Rakesh Thakor from Ahmedabad, Gujarat. Will you please take some time and call me on my Cell +91 8866818887 or Office Phone : 07940327195.
Sadly saying that We also become victim of this recently (last week)
Many Thanks,
Rakesh Thakor.
HI,
I have also been cheated by Amit and team and I have made the payment to his Axis bank account with details:
Name: Amit Lama
Type: Savings Account
A/c No: 910010028349041
Bank: AXIS BANK, Salt Lake, Kolkata
IFSC Code: UTIB0000775
Hope this wil be of some use to you Yogesh.
Ajit
HI,
I have been duped too of Rs 50,000 which I paid to an AXIS bank account because of Paypal and Moneybookers not acccepting (I should have stopped right then).
Moon
Dear Victims,
You can exchange your contact details and lodge FIR against Amit Lama & Team. After all 50,000 Rs. is not a small amount.
You all have bank account details of Amit which would easy for Police to trace that person.
Wish you get your money back.
Thank you
http://www.trimantra.com
Hello All, We are ready to log FIR in Cyber Crime cell against this company. anybody interested to join us?
Hi Rakesh,
It’s a great initiative.
I would appeal all victims to join Rakesh Thakor. He has already posted his contact details (Cell +91 8866818887 or Office Phone : 07940327195).
There might be many victims other than on this blog as well. So, it’s our moral responsibility to prevent other to be victim as well.
Rakesh, though we are not a victim, we would happy help you in case you need.
All the best !!
Bhavin Mistry
Mobile : 00-91-94283 90909
http://www.trimantra.com
Hello,
I request all the victims to send email to CBI cyber crime department.
We have send email to lodge complain to CBI Cyber crime reporting on below email addresses as per the link http://cbi.nic.in/contact.php.
speou9del@cbi.gov.in
hobbsfdel@cbi.gov.in
Hello Sir,
I would like to lodge one complain against one group running Scam in India. They known as ATM Agro Group (atmagrogroup.com) and Lancerspace.com, and they have cheated us (Many Others as well) in following way.
1. They post high budget software development work/project on reputed sites like freelancer.com
2. Once bidders(software developers like us) on freelancer.com bids on that project
3. They directly contact the bidders via email and asks to deposit $1000 as security deposit on lancerspace.com
4. Once developer like us deposits the security deposit money, they disappear.
As above we also have deposited 1000 USD in lancerspace.com account and now they (atm agro and lancerspace.com both) are not replying us.
After researching bit on internet we have noticed that these companies are fraud and running scam in india. They have cheated many software developers / freelancers / companies which you can find in below links.
http://www.complaints-india.com/complaints/35595/LancerSpace_com-Build-Your-System-Pvt_-Ltd-Fraud-in-asking-for-deposits-and-not-giving-job-work.html
http://trimantra.blogspot.in/2012/01/scam-scam-take-care-it-companies.html
We have all the communications emails and payment transfer transactions records with us, Please contact us if you required any detail.
thanks
Hello,
Even I too have been duped by this person. I lost 53000/- last month. I am in discussion with SP, Crime Branch Cyber cell and have lodged an FIR against the company.
Br
Aad
Hi, the bastard Amitkumar has activated again after 3 months… this time he has posted a project of vibgyorsys.com and the site to make escrow payment is freelancersea.com. The same modus operandy carried out like last time, asking to submit 50K + in his account with following details
Account Holder: AMIT LAMA
Bank Account Number: 910010028349041
Bank Name: AXIS BANK
IFSC Code: UTIB0000775
I really appreciate Trimantra software solutions for taking up this task on hand and preventing loss to freelancers/IT companies. Not revealing my name right now as I m trying to grab him by his collar this time
Every one please be aware. The company (previously Lancerspace.com/www.byserp.com, http://www.bysfoundation.com/ has changed name to vibgyorsys.com/ freelancersea.com) has entered the market again with same modes operandy. Mr. Amit Lama gives project development work of vibgyorsys.com of USD 25K and asks for depositing the escrow amt of USD 1000 to freelancersea.com (which is their own fraud site to grab your money).Then they will ask u to submit cash INR approx arnd 50K+
in below bank account
Account Holder: AMIT LAMA
Bank Account Number: 910010028349041
Bank Name: AXIS BANK
IFSC Code: UTIB0000775
Once u will pay this amount they will not respond and u will loose all your money Just be careful and remain away. No one Pays more then you deserve… if some one is, then there’s something big coming behind it…Tc every one
Hi,
If needed I can join you all too. I also was invited for this. I used paypal though. So I have filed disputes in paypal and also with my bank.
Let me know if I can be of help.
I too lost 53000/ with this basted. I payed 53k
This time he used freelancersea.com
Account Holder: AMIT LAMA
Bank Account Number: 910010028349041
Bank Name: AXIS BANK
IFSC Code: UTIB0000775
Now they have come up with new GM her name is Priyanka Chadha… Thanks for helping out.
Thank you so much…
I was about to pay him $1K…
you saved me..
Greatly thankful to you.
The GM name is Ms. Priyanka Chadha
and the CTO name is : Amit Lama
Please stay aware..
I was became a victim yesterday, I transferred to freelancersea.com and escrowed to them (vibgyorsys.com) 500 USD.
How can I get back OMG!!!! please help me
Hi,
It’s really sad!
You can give a try to get your money. However, chances are less.
1. If you have paid money through your bank via online transfer, you can request you bank to roll-back the transaction by saying that you made that transaction by mistake.
2. If you have just escrowed the amount and not yet released to the party, you can revert escrow. However chances are very less in this case because – freelancersea.com itself is a bogus I believe.
Please check whois record of domain.
3. Complain to nearby police station at earliest. It’s a cyber crime.
Thanks & Best Regards,
Bhavin
I see that on the freelancersea.com website, there is many users who is following his project. I see that the project information which he posted is the same and he assigned to many these users.
Why he did a work that I can see this is easy to realize he is scam?
Does anybody have some idea about this? and how can help other users there?