ED Arrests Accused In Falcon Scam
Haydarabad: Executive Directorate (ED), Haydarabad Zonal Office, Capital Protection Forces Pvt. Ltd. In connection with the RS 792 Crore Falcon Investment on Tuesday. Aryan Singh was produced on Wednesday before the private pmla court and returned to judicial custody for 14 days.
ED began by Cyberabad, the economic crime wing, after three Fir, and claimed that the company and the subsidiarists cheated on the investors of Amardeep Kumar promising high returns. ED found that the company used a Falcon invoice application to collect deposits, but a real invoice discount did not take place.
Ed found that Aryan Singh managed the operations of fraudulent Falcon with Amardeep gambling as Coo. Knowing that it was not a legitimate job, he introduced the program, discussed the investor interactions, helped to deflect the supervised teams and funds requesting deposits. In five personal bank accounts, 2.88 RS Crore and his presence received crime income in the Karaoi (OPC) account.
Previously, ED seized a Hawker 800a aircraft, added 18.14 Crore -worth moving and immovable properties, and arrested the brother of the defendants (brother of the main defendant) and an rented accountant Shardra Toshniwal.
The Crime Investigation Department (CID) also arrested him in July and said that Aryan Singh played a central role in the guidance of funds in the fraud that doubled the 4,065 RS 792 Crore deposits. In a previously published press note, CID said that Singh was the face of the operation, that he was dealing with victims and receipts, and collected a total of 14.35 crore deposit from the victims on behalf of the company.
More updates will be made as the investigation progresses.
