Telangana CID arrests Worldline executive in ₹4,215 crore Falcon Invoice Discounting fraud case

The Telangana Crime Investigation Department (CID) has arrested a senior executive of a payment gateway company in connection with the Falcon Invoice Discounting fraud case, which allegedly involved the collection of unauthorised deposits from thousands of investors across the country.

The arrested person was identified as Sheik Mohideen, executive vice-president of Worldline E-Payment Gateway, based in Mumbai.

According to the CID, the case relates to the operation of the Falcon Invoice Discounting application and website, through which investors were allegedly lured into investing in purported invoice discounting opportunities linked to well-known multinational companies. Investigators alleged that the accused created fake investment deals and promised high returns through short-term investment plans.

The agency said its investigation found that around ₹4,215 crore was collected from 7,056 depositors across India through the scheme. Of these, 4,065 investors were allegedly cheated of about ₹792 crore through M/s Capital Protection Force Private Limited, which operated the Falcon Invoice Discounting platform.

According to investigators, Sheik Mohideen allegedly colluded with the main accused and facilitated the collection of investor funds by providing payment gateway services through Worldline. The CID alleged that the company received approximately ₹77.53 crore as transaction-related earnings from operations linked to the scheme.

The accused was arrested and produced before a court, which remanded him to judicial custody.