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The Economic Offences Wing (EOW) of Cyberabad Police has arrested two individuals in connection with a massive Rs850 crore Ponzi scheme involving the Falcon Invoice Discounting Platform.
The accused, Pavan Kumar Odela, Vice President of Capital Protection Force Pvt. Ltd. and Business Head of Falcon Invoice Discounting Platform, along with Kavya Nalluri, Director of Capital Protection Force Pvt Ltd and Falcon Capital Ventures Pvt Ltd, allegedly lured thousands of investors with promises of lucrative short-term deposit returns.
The fraudulent scheme collapsed, leaving numerous investors in financial turmoil. Police investigations are ongoing to trace the extent of the scam and recover funds.
