In a significant breakthrough, the alleged mastermind behind the massive Falcon investment ponzi scheme, Amardeep Kumar, was apprehended by authorities at the Mumbai international airport on Monday. His arrest came upon his arrival from Iran, triggered by an active look-out circular (LOC) issued by the Telangana police.
The Arrest and a Puzzling Return
Amardeep Kumar, the director of Hyderabad-based Capital Protection Force Private Ltd, which operated under the brand 'Falcon Invoice Discounting' (FID), was intercepted by immigration officials at Chhatrapati Shivaji Maharaj International Airport. The LOC was issued by the Telangana Criminal Investigation Department (CID) in February 2025.
A CID team swiftly moved to Mumbai and initiated procedures to bring him to Hyderabad. "The main accused, Amardeep Kumar, MD of FID, was arrested at Mumbai airport after returning from Iran, pursuant to an LOC, and is being brought to Hyderabad on a transit remand," stated CID Additional Director General Charu Sinha.
Investigators are now delving into a critical question: why did Amardeep choose to return to India despite being fully aware of the LOC against him? A CID official noted that after initially fleeing, Amardeep had travelled across various Middle-Eastern countries.
The Dubai Escape and Multi-Crore Scam
The sequence of events reveals a planned escape. Amardeep Kumar had fled to Dubai in January 2025 using a Hawker 800A private jet owned by a firm under his control. This exit occurred even before three First Information Reports (FIRs) were registered against him in Cyberabad.
The scam, as uncovered by the CID, involved an unauthorised deposit mobilisation operation. The company allegedly created a fraudulent website and a mobile app to promote fake invoice discounting schemes. They lured investors by promising extravagant returns between 11% and 22% for investment periods spanning 45 to 180 days.
The scale of the financial fraud is staggering. Investigators allege the accused collected a whopping Rs 4,215 crore from 7,056 depositors. Out of these, a total of 4,065 investors were allegedly cheated of Rs 792 crore.
Expanding Arrests and Asset Attachment
With the capture of Amardeep Kumar, the total number of arrests in the case has risen to eleven. Those already in custody include company directors, executives, and a chartered accountant. All arrested individuals are currently in judicial custody.
The cases have been registered under relevant sections of the new Bharatiya Nyaya Sanhita, including criminal breach of trust, cheating, and criminal conspiracy, along with the Telangana Protection of Depositors of Financial Establishments Act.
In a parallel effort to recover funds, the CID has identified assets worth approximately Rs 45 crore for attachment. The list includes:
- 12 plots of land
- Four luxury vehicles
- 21 tolas of gold
- Shares valued at Rs 20 crore
- Bank balances amounting to Rs 8 crore
- Rs 8 lakh in cash
Authorities confirm that investigations are ongoing to trace the complete money trail and recover more assets linked to the scam. The arrest marks a pivotal moment in unraveling one of Hyderabad's major financial fraud cases.
