Telangana CID has been arrested more in the Falcon invoice discount scam, with two other people believed to be defrauding investors over Rs 42 billion.
On May 17, a special CID team arrested 63-year-old Rabindra Prasad Singh and 31-year-old Susma Raj in Bihar. CID director Shikha Goel said both are natives from Bihar. “Crucially, they are close family members of Amardeep and Sandeep, the racquet’s planners are still running. Amardeep, the chairman and managing director of Capital Protection ForcePvt. Ltd., and his partner Sandeep, allegedly, was discounted through the carefully curated Con, Falcon Invoice on its platform, officials said.”
Rabindra and Susma were not only aware of the program, but were also actively involved in it. The director added: “They were accused of gaining from fraud and fleeing Hyderabad when the scam surfaced.”
The CID recovered evidence of guilt, including Rs 8 lakh cash, high-value fixed deposits, gold jewelry, cell phones, electronic devices, passports, bank cards and property documents. The seizures point to the level of wealth accumulated through fraud, CID said. More assets purchased with illegal funds have been identified during the interrogation process.
The two will be taken to Hyderabad, remanded by bus, and will be delivered before a magistrate. They are bookings under sections 316(2), 318(4) and 61(2) of Bharatiya Nyaya Sanhita (BNS), and Section 5 of the Financial Institutions Depositors (TSPDEF) Act, 1999.
The Falcon Scam is one of the state’s biggest white-collar frauds lately, spinning around a deceptive platform www.falconsgrup.com, which promises high returns with counterfeit invoice discount deals allegedly involving well-known multinationals. The company used active social media advertising and TV stations to attract 7,056 depositors, with at least 4,065 of them losing Rs 7,92 crore.
The action was conducted under the corporate banner of Capital Protection Force Pvt. Limited company, originally a human resources supply company. According to CID, Rabindra Singh formed the company, which was later taken over by his son Amardeep. Investigators say Sandeep’s wife, Susma Raj, also benefited from the scam and enjoyed the luxury lifestyle of the gains.
Three cases originally registered with the Department of Economic Crime (EOW) (EOW) have since been transferred to the CID for further investigation.
In public consultation, CID urged citizens to remain alert to the online Ponzi scheme, commit to return to the sky, and warned that strict action will be taken to take place to take strict action against anyone who discovers or facilitates such operations. The abscond charges continue to pursue the rest of the abscond.
publishing – May 19, 2025 12:59 AM IST
