Hyderabad: Directorate of Enforcement (ED), Hyderabad, has attached 12 immovable properties worth 18 crore under the Prevention of Money Laundering Act (PMLA) in connection with an ongoing investigation in the Falcon scam. Capital Protection Force Pvt Ltd, Amardeep Kumar, and others were accused in the 792 crore scam. ED found some of the scam money was splurged in casinos.ED had initiated a PMLA investigation against Capital Protection Force Pvt Ltd, a city-based company responsible for running a bogus invoice discounting scheme, Amardeep Kumar, and others based on three FIRs registered by the Cyberabad police’s Economic Offence Wing. The accused fraudulently cheated gullible investors on the pretext of high returns on their investments.ED investigation had revealed that Capital Protection Force, in the name of the ‘Falcon invoice discounting scheme’, lured investors on the pretext of providing funds for invoice discounting in exchange for promising returns based on the invoices discounted, but failed to repay their invested amounts. The investigation revealed that Amardeep Kumar was the mastermind behind the scam, and he developed Falcon invoice app to receive deposits from the investors. The app was widely advertised on platforms such as Google, YouTube, and other social media to attract investors. The ED investigation revealed that, in reality, no business of invoice discounting was carried out, and the accused cheated investors to the tune of 792 crore.The PMLA investigation also revealed that the proceeds of crime, generated by the accused through the scam, were used as investments in equity shares of several companies, loans to companies, the purchase of an aircraft, conspicuous consumption in casinos, and the purchase of immovable properties in the name of Amardeep Kumar and his family members.The attached immovable properties are in the name of Amardeep Kumar, his family members, Rhett Healthcare Pvt Ltd, and Rhett Herbal Pvt Ltd. ED had earlier conducted search operations on March 7, 2025, and seized a private jet, ‘Hawker 800A’, which was purchased by the main accused, Amardeep Kumar, from the proceeds of crime.
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