Cyber Crime
Cyberabad EOW Arrests Two in Rs 850 Crore Falcon Invoice Ponzi Scheme
The Economic Offences Wing (EOW) of Cyberabad has arrested two individuals linked to an Rs 850 crore Ponzi scheme operated through the Falcon Invoice Discounting Platform.
Accused Lured Investors with Fake Promises
The scam promised 11-12% annual returns with investment maturities between 45 to 180 days. Investors deposited amounts ranging from Rs 25,000 to Rs 9 lakh, believing they were funding legitimate invoice discounting services. However, the platform fabricated vendor profiles and created fake deals to mislead investors.
Authorities arrested Pavan Kumar Odela, Vice-President of Capital Protection Force Pvt Ltd & Business Head of Falcon Invoice Discounting Platform, and Kavya Nalluri, Director of Capital Protection Force Pvt Ltd & Falcon Capital Ventures Pvt Ltd, on February 15.
The primary accused—Amardeep Kumar (MD, Falcon Capital Ventures Pvt Ltd), Aryan Singh (COO), and Yogender Singh (CEO)—are absconding, along with 17 other suspects.
Rs 1,700 Crore Collected, Rs 850 Crore Unpaid
The Ponzi scheme, operating since 2021, amassed Rs 1,700 crore, of which Rs 850 crore was repaid to early investors, while another Rs 850 crore remains unpaid to 6,979 depositors across India. The scheme collapsed on January 15, 2025, leading to complaints from defrauded investors.
Authorities discovered funds were misappropriated to establish multiple ventures, including a cryptocurrency platform, luxury hospitality, multi-level marketing, private charter services, and real estate investments.
Legal Action & Warning to Investors
A case has been registered under Sections 316(2), 318(4), 61(2) of Bharatiya Nyaya Sanhita (BNS) and Section 5 of the Telangana State Protection of Depositors of Financial Establishment Act, 1999.
The Cyberabad police urged the public to exercise caution before investing in high-return schemes and advised investors to verify financial firms’ legitimacy through SEBI and RBI. The investigation continues to track the absconding suspects and recover funds.