Two held for Rs 850 crore Falcon investment scam
According to police, those arrested for the scam were Pavan Kumar Odela, business head of Falcon invoice discounting platform, and Kavya Nalluri of Falcon Capital Ventures Pvt Ltd.
Hyderabad: The economic offences wing (EOW) of Cyberabad on Saturday arrested two persons for allegedly swindling Rs 850 crore by luring people into investing money after fraudulently promising lucrative returns in the Falcon invoice discounting platform (FIDP).
According to police, those arrested for the scam were Pavan Kumar Odela, business head of Falcon invoice discounting platform, and Kavya Nalluri of Falcon Capital Ventures Pvt Ltd. Odela is vice-president and Nalluri director of Capital Protection Force Pvt. Ltd.
The primary accused, Amardeep Kumar, MD of Falcon Capital Ventures), along with Aryan Singh, chief operating officer, and Yogender Singh, chief executive officer, lured 6,979 depositors by promising high returns on short-term deposits under the guise of invoice discounting. They are all at large.
While the deposits collected by the company was to the tune of Rs1,700 crore, the amount repaid to victims was 850 crore.
The EOW police registered a case under crime no.10/2025, under the BNS and Telangana State Protection of Depositors of Financial Establishment Act, 1999 and are working on recovering the misappropriated funds.
The accused launched a mobile application and website, falsely presenting the platform as a legitimate peer-to-peer invoice discounting service. They assured depositors that they would connected with industry majors, while in reality, they fabricated vendor profiles and fake deals. They promised anything between 11 per cent and 22 per cent returns annually.
The victims deposited amounts varying from Rs 25,000 to Rs 9 lakh for a maturity period of 45 to 180 days.
Operating since 2021, the accused continuously recruited new depositors to pay returns to earlier investors, forming a classic Ponzi scheme. The funds collected were diverted into shell companies. By January 15, 2025, the scheme collapsed, the promised returns were halted, and the office was shut down.
Following this, the victims lodged a police complaint.
The accused allegedly invested in various companies including a property firm in Dubai.
The accused were accused of fraudulent activities through Blulife International, deceiving the public via a multi-level marketing scheme. were accused of fraudulent activities through Blulife International, deceiving the public via a multi-level marketing scheme. A case (crime no. 126/2022, Chevella) was registered against them.