Telangana CID Arrests Falcon Group Ex-COO in Rs 792 Crore Deposit Fraud Case

The Telangana CID arrested Vikas Kumar Sakhare, former COO of Falcon Group, in connection with a Rs 792 crore deposit fraud involving unauthorized collection of Rs 4,215 crore from over 7,000 depositors. The accused allegedly used the Falcon Invoice Discounting Application to create fake deals with reputed MNCs, promising high returns. Multiple cases were registered, and investigations revealed a Ponzi scheme where funds were diverted to shell companies. The scheme collapsed by January 2025, prompting victim complaints and legal action.