Falcon Invoice Discounting MD arrested in ₹792 crore fraud

Arrest in Fake Invoice Discount Case

The Crime Investigation Department (CID) of Telangana has arrested Amardeep Kumar, the managing director of Falcon Invoice Discounting. This arrest is linked to a fake invoice discount case involving alleged cheating, criminal breach of trust, and conspiracy.

Amardeep Kumar was apprehended at Mumbai Airport on Monday, January 5, after returning from Iran. The arrest followed a Look Out Circular, and he is being brought to Hyderabad on transit remand for further investigation.

Details of the Case

The case involves M/s Capital Protection Force Private Limited, which operated under the brand name Falcon Invoice Discounting. The accused allegedly created a fraudulent website and mobile application. They made fake invoice discounting deals in the names of well-known multinational companies and promised investors high short-term returns.

According to the CID, the firm collected about ₹4,215 crore from 7,056 depositors. Of these, 4,065 victims were allegedly cheated out of ₹792 crore. The case was initially registered at the Economic Offences Wing police station in Cyberabad based on multiple victim complaints and was later transferred to the CID, Telangana.

Current Status of the Investigation

So far, eleven accused have been arrested, including company directors, senior executives, and a Chartered Accountant. They have been remanded to judicial custody. The CID has identified assets worth approximately ₹43 crore. This includes twelve plots, four luxury cars, ₹8 lakh in cash, 21 tolas of gold, shares worth ₹20 crore, and bank balances of ₹8 crore, which are under process of attachment.

Efforts are ongoing to trace the money trail and identify further proceeds of crime. The police have advised citizens to remain cautious and avoid online investment schemes that promise unrealistic returns. Such offers are common in financial frauds and rarely benefit investors.