Telangana: Ponzi scheme mastermind arrested in Mumbai
Vikas Kumar Sakhare, former COO of Falcon Group, was arrested by Telangana CID for allegedly playing an active role in a massive Ponzi scheme that cheated investors out of ₹792 crore.
The scam operated through the Falcon Invoice Discounting App, luring people with fake promises of quick, high returns.
Scheme faked deals with big companies
Launched in 2021, the scheme faked deals with big companies and spread its ads across Google, YouTube, and Instagram.
Over 7,000 people invested a total of ₹4,215 crore before everything crashed in January last year.
Now, the CID has taken over multiple cases tied to this fraud and seized Sakhare's phone as evidence.
Police are reminding everyone: if an investment sounds too good to be true—especially online—it probably is.
The investigation is still ongoing.