Hyderabad:Falcon Group Chairman and Managing Director Amardeep Kumar and CEO (CEO) Vivek Seth, who collected Rs 8.5 crore from 7,000 clients, many of whom were suspected of being in Hyderabad in Ponzi schemes, were suspected of being attempted to escape the Vice President (ED) of the Law Enforcement (ED) to escape from Dubai, where they could flee to other countries, where they were seeking help from, where they were seeking help from, where they were seeking help from, where they were seeking help from.
ED officials seized an eight-seater luxury plane at Shamshabad Airport on March 8, which is believed to bring the duo to Dubai. At the time, ED questioned the key figures suspected of helping Amardeep Kumar and Vivek Seth escape.
Sources said ED has been cautious about Amardeep Kumar’s movement and his financial transactions in Dubai. The emergency room also explored the case to identify defendants who were addicted to the city’s 8.5 billion euro fraud.
Sources said the emergency room is also verifying accounts of Falcon Group and its CMD and CEO for alleged money laundering. The agency is tracing investments made by the duo in the form of a purchase of assets and cash transactions from criminal proceeds. AmardeepKumar and Vivek Seth fled to Dubai on January 22 to avoid investigations. Kumar even used a jet to Dubai monthly before registering the case with him. Initially, Cyberabad police registered Falcon and its management and arrested three people. Recently, the court approved one of the defendants of an employee. The Economic Crime Department (EOW) of the Chief of the Cyprus Police Department is also investigating the case.
