Falcon Group COO Arrested in Rs 792 Crore Fraud

The Telangana CID arrested Vikas Kumar Sakhare, the former COO of Falcon Group, over a Rs 792 crore fraud. The scheme involved fake deals through the Falcon Invoice Discounting App, cheating 4,065 depositors. The fraudulent activity, part of a larger Ponzi scheme, led to multiple investigations.

In a significant development, the Telangana Criminal Investigation Department (CID) has arrested Vikas Kumar Sakhare, former Chief Operating Officer of the Falcon Group, in connection with a massive Rs 792 crore deposit fraud case. The arrest took place on Wednesday at his residence, CID Additional Director General Charu Sinha disclosed in an official release.

The case involves the unauthorized collection of deposits where the victims were deceived through fake deals created using the Falcon Invoice Discounting Application. This fraudulent operation induced approximately 7,056 depositors by offering high-interest rates, ultimately cheating 4,065 of them out of Rs 792 crores. The associated Capital Protection Force Private Ltd was instrumental in this scheme.

The fraudulent activity operated since 2021, using a Ponzi scheme model where funds from new investors were used to pay returns to earlier investors. This deceitful practice continued until the scheme's collapse in January 2025, leading to a series of complaints and legal actions against the implicated figures and companies.

(With inputs from agencies.)