The Enforcement Directorate (ED) on Tuesday arrested Aryan Singh, Chief Operating Officer of Capital Protection Force Pvt. Ltd., in connection with what investigators describe as a ₹792 crore fraud. The scheme revolved around the company’s so-called “Falcon Invoice Discounting” platform, which promised lucrative returns on funds deposited against invoices. Instead, authorities say, investors’ money was siphoned off and never repaid.
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Singh was presented before a Special PMLA Court in Hyderabad on Wednesday and remanded to 14 days of judicial custody. The arrest follows multiple First Information Reports filed by the Economic Offence Wing in Cyberabad, which alleged that Capital Protection Force, under the direction of founder Amardeep Kumar, cheated investors on the pretext of high returns.
How the Falcon Scheme Worked
According to the ED, Capital Protection Force lured investors with assurances of steady profits through invoice discounting—a legitimate financial mechanism in which companies sell unpaid invoices at a discount to generate quick liquidity. But investigators now say no such business was ever conducted.
Instead, Amardeep Kumar allegedly created the “Falcon Invoice App” to solicit deposits, presenting it as a secure and technology-driven investment channel. Investors, believing their money was funding short-term loans against invoices, were persuaded to contribute large sums. The ED’s investigation revealed that the scheme was fictitious from the outset, and returns were neither generated nor disbursed.
Aryan’s Role and Personal Gains
While Kumar has been described as the mastermind of the operation, the agency contends that COO Aryan Singh played a central role in running day-to-day operations. He managed teams that promoted the fraudulent business, interacted with investors to build credibility, and helped divert funds.
Evidence gathered by the ED shows Singh personally benefited, with ₹2.88 crore deposited across his five personal bank accounts and into the account of his entity, Karaoi (OPC). Officials also say Singh was aware that the business had no genuine operations, yet continued to lure unsuspecting investors into the scheme.
Assets Seized and a Wider Net
The ED has already seized a Hawker 800A aircraft linked to the case, along with movable and immovable properties worth ₹18.14 crore. Several associates, including Sandeep Kumar—brother of the main accused—and chartered accountant Shard Chandra Toshniwal, have also been arrested in connection with the scheme.
Investigators describe the operation as a “layered” fraud, where funds were not only collected under false pretenses but also systematically diverted into personal accounts and luxury assets. The case highlights both the sophistication of digital-era scams and the vulnerability of investors enticed by promises of unusually high returns.
With Singh now in custody, the ED says its focus will remain on tracing the full money trail and determining the ultimate beneficiaries of what has become one of the largest invoice-discounting frauds in recent years.