Hyderabad, Jan 6 (UNI) : In a major breakthrough in one of Telangana’s biggest financial fraud cases, the Crime Investigation Department (CID) has arrested Amardeep Kumar, Managing Director of Falcon Invoice Discounting, for allegedly orchestrating a massive investment scam involving over Rs. 4,215 crore. On Monday, the CID apprehended Amardeep Kumar at Mumbai Airport after he returned from Iran, said CID Additional Director General Charu Sinha in an official release here on Tuesday.
The arrest was made based on a Look Out Circular (LOC) issued against him, and he is currently being brought to Hyderabad on a transit remand for further interrogation, she said.
The accused ran a sophisticated operation under the banner of Capital Protection Force Pvt. Ltd., using the brand name Falcon Invoice Discounting to lure investors with promises of high short-term returns, the CID official said.
The accused developed a fraudulent website and mobile application, showcasing fake invoice discounting deals purportedly linked to reputed multinational companies..
The scam reportedly trapped 7,056 depositors, out of which 4,065 investors were cheated of nearly ₹792 crore, said Charu Sinha.
Victims were induced to invest money, believing it was being routed through legitimate corporate invoice financing.
Following multiple complaints from victims, cases were registered earlier this year at the Economic Offences Wing Police Station, Cyberabad, under sections related to criminal breach of trust, cheating, criminal conspiracy, and provisions of the TSPDFE Act, 1999, the CID officer said.
The cases were later transferred to the CID, Telangana.
So far, 11 accused, including company directors, senior executives, and a Chartered Accountant, have been arrested in connection with the scam and remanded to judicial custody.
The CID has identified assets worth approximately Rs. 43 crore, including 12 plots, four luxury cars, Rs. 8 lakh in cash, 21 tolas of gold, RDP shares worth ₹20 crore, and bank balances of Rs. 8 crore, which are now under attachment proceedings, she said.
Efforts are underway to trace the money trail, identify additional beneficiaries, and recover funds to provide relief to victims, the Additional DG added.
Issuing a public advisory, the CID warned citizens against falling prey to online investment schemes promising unrealistic returns, urging people to verify the credibility of financial platforms before investing.
