Two held for Rs 792 cr Falcon scam in Hyderabad

Telangana CID on Wednesday arrested two persons in connection with the Rs 792 crore scam in Hyderabad on Tuesday, June 3.

The prime accused was identified as Sandeep Kumar, the key accused and operations head of Capital Protection Force Pvt. Ltd.. Sandeep was arrested along with his accomplice, identified as Ravi Kumar.

Sandeep and Ravi’s arrest comes after seven other persons involved in the Falcon scam were arrested in March.

The accused collected



Rs 4,215 crore from 7,056 depositors through an online platform called Falcon Invoice Discounting Application.

The accused created fake investment deals under the guise of reputed multinational companies, promising high interest rates on short-term plans to lure investors.

Initial investigations estimate that around 4,065 victims were cheated to the tune of Rs 792 crore. The scam involved criminal offences including Criminal Breach of Trust, Cheating, and Criminal Conspiracy.