India News
Fraudsters in Hyderabad have pulled off a massive scam, looting nearly Rs 900 crore from unsuspecting investors. The scheme, operating under the name Falcon Invoice Discounting, promised high returns on investments, luring people with attractive offers. With links to reputed companies, the scammers convinced people to invest, promising returns of 11% to 22% within 45 to 180 days for deposits ranging from Rs 25,000 to Rs 9 lakh.
To make the scheme appear legitimate, they developed a mobile app and website, and operated under the company name Capital Protection Force Private Limited, established in 2021. The fraudsters followed a classic Ponzi scheme model, using new investments to pay off earlier investors.
By January 15, 2025, the scheme abruptly collapsed, and payments to investors were halted. Offices were shut down, and the organizers disappeared, leaving thousands of victims in distress. Investigations revealed that the scammers collected Rs 1,700 crore from 6,979 investors, but only Rs 850 crore was returned. The remaining funds were funneled into 14 shell companies before the company shut down.
Following complaints from victims, Cyberabad police arrested two suspects—Falcon Capital Protection Force Director Kavya Nalluri and Vice President Pavan Kumar Odela. A total of 20 people have been identified as accused in the case, with the prime suspect, Amardeep Kumar, still on the run. The police continue their search for him while investigating further financial transactions linked to the scam.
Advertisment
