Key accused in ₹4,215-crore Falcon scam nabbed in Hyderabad; luxury cars seized

The two accused and the seized cars in a photograph released by Telangana CID. | Photo Credit: By Arrangement

The Telangana Crime Investigation Department (CID) has arrested Sandeep Kumar, one of the masterminds behind the Falcon invoice discounting scam, along with his accomplice, Ravi Kumar. The arrest took place in Hyderabad on Tuesday, in a case that spans multiple states and involves thousands of duped investors.

Seized during the arrests were three luxury cars — a Mercedes GLS 400D, a Range Rover Velar, and an Innova Crysta — valued at ₹2.5 crore, along with 14 property documents worth ₹10 crore, mobile phones, cash and ID cards.

Sandeep Kumar, operations head of Capital Protection Force Pvt. Ltd. and younger brother of company MD Amardeep Kumar, had been absconding after fleeing to Dubai. According to the CID, he illegally re-entered India via the Nepal border and moved across Bihar, Odisha, Goa and finally back to Hyderabad, where he was sheltered by his cousin, Ravi Kumar.

Director of CID, Shikha Goel said the scam, operated through the Falcon Invoice Discounting app (www.falconsgrup.com), lured depositors with fake short-term investment deals purportedly linked to reputed multinational companies. Over ₹4,215 crore was collected from more than 7,000 individuals. Initial estimates suggest around ₹792 crore was siphoned from over 4,000 victims.

The CID has, so far, registered three primary cases under relevant sections of the Bharatiya Nyaya Sanhita and the Telangana Protection of Depositors of Financial Establishments Act. Eight more cases are pending across six States including Karnataka, Maharashtra, West Bengal, Rajasthan, Andhra Pradesh and Delhi.

“Sandeep Kumar diverted ₹845 crore into personal and associated company accounts. The CID is continuing efforts to apprehend remaining suspects, including CEO Yogendra Singh, who is believed to be in the UAE,” said Ms.Goel.

Published - June 05, 2025 12:17 am IST