Massive ponzi scam exposed in Bengaluru; 180 investors lose Rs. 41 crore

Bengaluru has been rocked by a major investment scam, where over 180 people have collectively lost Rs. 41 crore to a fraudulent scheme operated by Falcon Invoice Discounting. The company deceived investors with promises of high returns but ultimately collapsed, leaving victims in financial ruin.

Also read: Bengaluru couple arrested for ₹2.64 crore visa scam targeting jockeys

Falcon functioned as a Ponzi scheme, using funds from new investors to pay earlier ones while presenting the illusion of legitimate profits. Investors were enticed by a supposed invoice discounting model, where Falcon claimed to act as an intermediary between investors and established companies. Investors were assured returns once these companies cleared their invoices, but the entire setup was fabricated. Vendor profiles were fake, and no genuine transactions took place.

The scale of the fraud is staggering, with reports indicating that over 6,000 investors across India were duped. Falcon allegedly amassed Rs. 1,700 crore but returned only Rs. 850 crore before its collapse. Many victims in Bengaluru have come forward, devastated by their losses.

Authorities have launched an investigation into Falcon’s operations. Key figures, including Managing Director Amardeep Kumar, COO Aryan Singh, and CEO Yogender Singh, are currently absconding. FIRs have been registered, and the Enforcement Directorate is now involved. Officials urge more victims to report their losses while warning the public to be cautious of schemes that promise unrealistic returns.