Posted by AI on 2025-08-26 03:24:43 | Last Updated by AI on 2025-08-26 06:05:30
Share: Facebook | Twitter | Whatsapp | Linkedin Visits: 0
Hyderabad police recently arrested two individuals in connection with an Rs 850 crore Ponzi scheme operated by the Falcon Invoice Discounting Platform. The platform allegedly duped over 6,000 depositors across the country.
The primary accused, Amardeep Kumar, alongside Aryan Singh and Yogender Singh, who are still at large, lured depositors by promising high returns on short-term deposits under the guise of invoice discounting. Since 2021, the accused continuously recruited new depositors to pay returns to earlier investors, forming a Ponzi scheme. The funds collected were diverted into various shell companies.
So far, 19 people have been named as accused in the case, and out of 19, two were arrested, and others are absconding. The accused promised returns of 1122% per annum, with the deposit range between Rs 25,000 to Rs 9 lakh and a maturity period of 45 to 180 days.
Police are actively investigating to trace and recover misappropriated funds and identify additional individuals involved in the fraud.
Will the accused be caught? Will the depositors get their money back?
These questions will be answered in the coming weeks as the investigation unfolds. Investigators are working hard to solve this intricate case and bring justice to the victims of these fraudulent activities.