Hyderabad: The alleged mastermind of the Falcon Ponzi Scheme, Amardeep Kumar, was caught by immigration authorities at Mumbai airport on Monday. He is a cited accused in an Rs 800 crore fraud committed by Falcon Invoicing Discounting (FID) through a ponzi scheme and was since absconding.
After receiving information that he was present at the Chhatrapati Shivaji Airport on the night of Monday, December 5, the Telangana police officials went there and took him into custody. The Telangana Crime Investigation Department (CID) had issued a Look out Circular against him earlier.
It has been learnt that he came to Mumbai from a Gulf country and was detained by immigration officials at the Mumbai airport. Amardeep is facing multiple criminal cases in various parts of the country. But since the Telangana police first obtained an LOC against him in Feb 2025, Amardeep’s custody is likely to be given to it.
He is expected to be officially arrested on Tuesday, December 6, after obtaining a local court’s permission. The FID collected huge amounts from hundreds of investors with a promise of a high rates of return or profits.
After the Cyberabad police registered a case, Amardeep and a few other associates fled to Dubai. Since then, the LOC was pending against him and the CID took over the probe and arrested several accused subsequently.
