ED Seizes Luxury Jet in High-Profile 'Falcon Scam'

The Enforcement Directorate (ED) seized a luxury jet at Hyderabad's airport linked to the Rs 850 crore 'Falcon scam.' The jet, allegedly owned by Amardeep Kumar, was used to flee to Dubai. The investigatory operation reveals funds were diverted from a Ponzi scheme to purchase the aircraft.

The Enforcement Directorate (ED) has taken possession of a Hawker 800A jet at Hyderabad's Rajiv Gandhi International Airport. This aircraft is alleged to belong to Amardeep Kumar, the main suspect in an Rs 850 crore financial fraud known as the 'Falcon scam.'

Official sources indicate that Kumar and an associate fled to Dubai aboard this aircraft on January 22. The ED's investigation confirmed Kumar as the jet's beneficial owner. The plane was reportedly acquired in 2024 through Prestige Jets Inc. for USD 1.6 million (approximately Rs 14 crore).

Authorities claim the jet acquisition was financed with proceeds from the Falcon Group's Ponzi scheme, which collected Rs 1,700 crore from investors under false pretenses. Investigators are focusing on uncovering the whereabouts of key figures, including Kumar, who remain at large.

(With inputs from agencies.)