In a major crackdown on a sophisticated cyber fraud operation, the managing director of Falcon Invoice Discounting, Amandeep Kumar, was arrested by the Telangana Crime Investigation Department (CID). The arrest took place at Mumbai airport on Monday, 5 January, as Kumar was returning from Iran. A look-out circular had been issued against him, leading to his apprehension.
The Elaborate Scam and Its Modus Operandi
According to an official press note shared by ANI, Kumar and his associates orchestrated a large-scale financial fraud through a deceptive website and mobile application. The accused allegedly created a fraudulent platform, www.falconsgrup.com, and a corresponding app to lure investors with promises of high short-term returns.
Their method involved fabricating fake invoice discounting deals using the names of reputable multinational corporations (MNCs). This veneer of legitimacy helped them convince victims to make unauthorised deposits. Investigators have revealed the staggering scale of the scam: approximately ₹4,215 crore was raised from 7,056 depositors. Out of these, a devastating 4,065 victims were cheated, suffering collective losses amounting to ₹792 crore.
Investigation, Arrests, and Asset Attachment
Following his arrest at the airport, Amandeep Kumar was brought to Hyderabad on transit remand. He is not alone in facing charges. So far, 11 accused individuals have been arrested in connection with this case. This group includes company directors, executives, and even a chartered accountant. All have been remanded to judicial custody.
In a significant move to recover the lost funds, authorities have identified and begun the process of attaching assets linked to the scam. The seized and identified properties include:
- 12 plots of land
- Four luxury cars
- ₹8 lakh in cash
- 21 tolas of gold
- RDP shares valued at ₹20 crore
- Bank balances totalling ₹8 crore
The total value of these identified assets is approximately ₹43 crore. The investigation, led by Telangana's CID under the supervision of Charu Sinha, IPS, Addl. DGP, CID, is actively working to trace the complete money trail and identify more assets for recovery.
A National Crisis of Cyber Fraud
This case is a stark example of a growing national menace. The press note included a strong public advisory, warning citizens to be extremely cautious of online investment schemes that promise unrealistic returns. This warning is backed by alarming data.
A recent report highlights that Indians lost a colossal ₹19,812.96 crore to various cyber fraud and cheating cases in 2025. The National Cyber Crime Reporting Portal received a staggering 21,77,524 cheating-related complaints in that single year.
Most concerning is the breakdown of these losses. Out of the nearly ₹20,000 crore lost, about 77% was siphoned off in the name of investment schemes. This signals a sharp rise in financially motivated cyber fraud and points to a growing vulnerability among retail investors who are enticed by promises of high returns. The report notes a rise in crimes like investment traps, digital arrest scams, online frauds, banking frauds, and cyber phishing across India.
The arrest of Amandeep Kumar is a crucial step, but it underscores the critical need for public vigilance. Investors must verify the legitimacy of any online platform, check for proper regulatory approvals, and be deeply skeptical of offers that seem too good to be true, as they often are.
