A top executive from Falcon Group is in custody following a police operation targeting a colossal ₹850 crore online investment swindle. The fraud came to light after victims reported vanishing funds from promised high-return digital platforms.
The MD allegedly led a team that created sham websites and apps mimicking legitimate trading services. Investors poured in money expecting exponential growth, only to find access locked and communications cut off.
Raids at multiple locations yielded hard drives with victim databases, fake testimonials, and transaction ledgers. The scam preyed on aspirations for financial independence through tech-driven investments.
With digital fraud cases surging, this arrest is part of a nationwide drive to dismantle scam syndicates. Financial experts warn against ‘too good to be true’ schemes in the unregulated crypto space.
Recovery efforts are underway, with authorities freezing linked bank accounts. The public is advised to stick to licensed platforms for safe investing amid rising cyber threats.