Falcon Group Former COO Vikas Kumar Sakhare Arrested in Rs 4,215 Crore Investment Fraud

In a major development in Telangana’s sensational investment fraud case, the CID on Wednesday arrested Vikas Kumar Sakhare , former Chief Operating Officer of Falcon Group , for his alleged role in a massive scam involving Rs 4,215 crore .

Sakhare was apprehended at his residence in Hyderashakote, Hyderabad , and later produced before a magistrate, who remanded him to custody as per court orders. According to CID officials, the accused played a key role in collecting funds from over 7,000 unsuspecting investors across the country by promising high returns under the Falcon Group banner.

Investigations revealed that Capital Protection Force Private Limited , an associate company of Falcon Group, cheated 4,065 victims of Rs 792 crore . The CID stated that Sakhare conspired with Managing Director Amardeep Kumar and others in orchestrating the scam.

The accused allegedly developed the “Falcon Invoice Discounting Application” and promoted it aggressively on Google, YouTube and Instagram , besides using telemarketing to attract investors. By fabricating deals in the names of reputed multinational companies and issuing official-looking receipts and agreements, they projected the scheme as legitimate.

Given the gravity of the case, three cases initially registered at the Cyberabad Economic Offences Wing were transferred to the CID. Additionally, 10 more cases have been registered against the company nationwide.

CID Additional DGP Charu Sinha warned the public against online investment schemes promising “impossible returns” , urging citizens to remain vigilant against fraudsters operating through digital advertisements and fake deals.

Earlier, the prime accused in the Falcon investment Ponzi scheme, Amardeep Kumar , was arrested in January at the Chhatrapati Shivaji Maharaj International Airport, Mumbai , upon arrival from Iran, based on a Look Out Circular issued by Telangana Police. So far, 11 accused persons have been arrested and remanded to judicial custody in connection with the case.