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Background

The Falcon Invoice Discounting (FID) scam is a significant financial fraud that has impacted thousands of investors across India. Operating as a peer-to-peer (P2P) platform, FID promised high returns by offering investments in discounted invoices from reputed companies. However, investigations have revealed that the platform was a Ponzi scheme, leading to substantial financial losses for many individuals. 

The Times of India The Times of India

Key Details of the Scam:

  • Modus Operandi: FID claimed to connect investors with businesses needing short-term funding by offering cash against invoices. The company created fake vendor profiles and invoices/deals, falsely claiming associations with established firms like Britannia and Amazon to lure investors. Investors were promised returns ranging from 11% to 24% per annum. In reality, the company used funds from new investors to pay returns to earlier ones. The Economic Times. mint.

  • Scale of the Fraud: Since 2021, FID collected approximately ₹2,600 crore (about $315 million) from nearly 7,000 investors. As of early 2025, over ₹1,000 crore remains unaccounted for, with many investors struggling to recover their funds. South China Morning Post. The Times of India

  • Investor Impact: Victims include professionals such as tech employees, doctors, and retired individuals. Some invested their life savings or even borrowed funds to invest in FID, leading to significant financial distress. Reuters. Change.org. The Times of India.

  • Legal Actions: The Cyberabad police have registered multiple cases against FID’s management, including its chairman, Amardeep Kumar, who is currently absconding. Two other individuals associated with the company have been arrested. The Indian Express.

  • Diversion of Funds / Money Laundering Concerns: Investigations have uncovered that FID diverted funds through approximately 15 shell companies and used cryptocurrency platforms including Coin Trade to obscure the money trail. These entities were used to siphon off investor money. The Enforcement Directorate has been approached to probe potential violations under the Prevention of Money Laundering Act. The Times of India.

IMPACT ON INVESTORS

The Falcon Invoice Discounting (FID) scam has had a devastating impact on thousands of investors across India.

Scale of the Scam

  • Total Funds Collected: Approximately ₹2,600 crore from nearly 7,000 investors.

  • Funds Returned: Only about ₹850 crore was repaid, leaving a significant amount unaccounted for.

  • Investor Demographics: The victims include a wide range of individuals such as tech professionals, doctors, chartered accountants, traders, businessmen, armed forces personnel, retirees, and even C-suite executives. The Times of India

Impact on Investors

  • Life Savings Lost: Many investors entrusted their entire life savings to FID. For instance, a retired armed forces personnel from Bengaluru invested over ₹3.5 crore and lost it all. The Times of India

  • Debt Accumulation: Some investors used credit cards to invest in short-term deals, leading to significant debt when the scheme collapsed.

  • Emotional Distress: The sudden collapse of FID has left many investors in shock and financial distress, with some expressing uncertainty about recovering their funds. The Times of India

Geographic Spread

Investors from various states, including Telangana, Andhra Pradesh, Delhi NCR, Karnataka, Maharashtra, Gujarat, Tamil Nadu, Rajasthan, Haryana, Kerala, Odisha, Bihar, Punjab, Himachal Pradesh, Arunachal Pradesh, Tripura, and Ladakh, have been affected. The Times of India. THE MAG POST.

Investor Response

In the aftermath of the scam, over 1,000 affected investors have come together on social media platforms such as WhatsApp and Telegram to share information, strategize legal actions, and seek justice.

The Falcon Invoice Discounting scam serves as a stark reminder of the importance of due diligence and caution when engaging in high-yield investment schemes. Investors are advised to verify the legitimacy of investment platforms and be wary of unrealistic promises of high returns.

As of May 2025, the Falcon Invoice Discounting (FID) scam continues to be a significant financial fraud case in India, with ongoing investigations and legal proceedings. 

Multiple FIRs Filed Across India

  • Telangana (Cyberabad Police)

    • Number of FIRs: At least three FIRs have been registered by the Economic Offences Wing (EOW) of the Cyberabad Police.
    • Crime No. 10/2025: Registered by the Economic Offences Wing (EOW) against FID’s management, including Amardeep Kumar (Chairman and Managing Director), Aryan Singh (Chief Operating Officer), Yogender Singh (Chief Executive Officer), and Anitha Kumar. Charges include fraud and breach of trust under the Indian Penal Code and the Telangana State Protection of Depositors of Financial Establishments Act, 1999.
    • Crime No. 126/2022 (Chevella): An earlier case linked to fraudulent activities through Blulife International, involving some of the same individuals.

    • Legal Provisions Invoked: The cases have been filed under relevant sections of the Bharatiya Nyaya Sanhita (BNS) and the Telangana State Protection of Depositors of Financial Establishment Act, 1999.

    • Accused Individuals: The FIRs name over 20 individuals, including:

      • Amardeep Kumar (Managing Director, Falcon Capital Ventures Pvt Ltd)

      • Aryan Singh (Chief Operating Officer)

      • Yogender Singh (Chief Executive Officer)

      • Pavan Kumar Odela (Vice President, Capital Protection Force Pvt Ltd & Business Head of FID)

      • Kavya Nalluri (Director, Capital Protection Force Pvt Ltd & Falcon Capital Ventures Pvt Ltd)

    • Status: While Pavan Kumar and Kavya Nalluri were arrested on February 15, 2025, the primary accused, including Amardeep Kumar, Aryan Singh, and Yogender Singh, are currently absconding.

    • Additional Arrest: On February 23, 2025, Gade Anantha Kumari, a clerical employee at Falcon, was arrested. However, she was granted bail on March 3, 2025, as the court found no evidence of her benefiting from the scheme beyond her salary.The New Indian Express

    Karnataka (Bengaluru Police)

    • Number of FIRs: Four FIRs have been registered in Bengaluru.

    • Police Stations Involved: Two FIRs each have been filed at the Central Crime Branch’s Cyber Crime Police Station and the West CEN Police Station.

    • Victim Count: At least 183 investors in Bengaluru have reported losses totaling over ₹41 crore.

    • Modus Operandi: Victims were lured into making short-term investments in an ‘invoice discount scheme’ that promised 11-22% returns.

    Maharashtra (Mumbai)

    • Notable Case: As of May 2025, the Mumbai Police’s Economic Offences Wing (EOW) has registered a First Information Report (FIR) against Capital Protection Force Private Limited and its top executives, including Managing Director Amardeep Singh, Directors Anita Kumari and Pawan Odela, among others. This action follows allegations that the company defrauded 184 investors in Mumbai of approximately ₹60 crore through a Ponzi scheme operating under the name Falcon Invoice Discounting.The Indian Express

    • Legal Provisions Invoked: The FIR has been registered under sections 316(2), 318(4), and 61(2) of the Bharatiya Nyaya Sanhita (BNS), along with sections 3 and 4 of the Maharashtra Protection of Interest of Depositors (MPID) Act.

    Maharashtra (Nagpur)

    • Notable Case: A district and sessions court judge in Nagpur, Kapesh Vijay More, filed an FIR after losing ₹13.5 lakh in the scam.

    • Details: The judge was introduced to the investment platform by a relative and invested between January and February 2025. Initial profits were credited, but subsequent investments were not returned, leading to the complaint.The Week

    Other States

    • Additional Complaints: Police in Gujarat and Maharashtra have also filed separate cases against the FID management after investors in those states lodged complaints.

    • Investigation Status: Authorities are coordinating across states to trace and recover misappropriated funds and identify additional individuals involved in the fraud.

    Enforcement Directorate (ED) Involvement

    The Enforcement Directorate has taken over the probe, registering a case under the Prevention of Money Laundering Act. An Enforcement Case Information Report (ECIR) has been issued, and the ED has requested details about the scam, including FIRs and remand reports, from the Cyberabad Police.The Times of India.

FALCON SCAM - PHOTOS OF ACCUSED/ABSCONDING