Falcon COO Held in ₹4,215 Crore Cheating Case
Of these, 4,065 victims were cheated to the tune of ₹792 crore by Capital Protection Force Pvt. Ltd., working under the Falcon app.
Hyderabad:In continuation of investigation, the Crime Investigation Department (CID) officials on Wednesday arrested Falcon company chief operating officer Vikas Kumar Sakhare for playing an active role in the offence and shifted him to judicial remand.
CID chief Charu Sinha said the accused played a key role in the Falcon cheating case involving collection of deposits, criminal breach of trust, cheating and criminal conspiracy. He developed the Falcon Invoice Discounting Application (www.falconsgrup.com), created fake deals in the name of reputed MNCs, induced depositors with promises of high interest rates on short‑term plans and collected about ₹4,215 crore from 7,056 depositors. Of these, 4,065 victims were cheated to the tune of ₹792 crore by Capital Protection Force Pvt. Ltd., working under the Falcon app.
On victims’ complaints, three cases were initially registered by Cyberabad police and later transferred to CID. Ten cases have since been registered against the accused company and its directors across India. Capital Protection Force Pvt. Ltd. developed the app, advertised through Google, YouTube, Instagram and tele‑callers, created fake deals in the name of MNCs, collected crores from depositors and issued false receipts and agreements.
Sakhare, Falcon Group’s ex‑COO, colluded with the main accused Amar Deep Kumar, MD of Falcon Group of Companies, and others to attract depositors and cheat victims. He also worked with Yogendra Singh and Amardeep Kumar, MD of Capital Protection Force Pvt. Ltd., in collecting deposits.
