HYDERABAD: The Telangana Crime Investigation Department (CID) has arrested Yogendra Singh, CEO of Falcon Group, for his alleged role in a Rs 4,215 crore financial scam that defrauded thousands of investors through a bogus invoice discounting scheme.
The fraud centred around a fake application developed by Capital Protection Force Pvt Ltd, operating under the name “Falcon Invoice Discounting”.
The platform falsely claimed to offer high returns by showcasing fictitious deals with reputed multinational companies. Lured by these promises, over 7,000 people invested, with at least 4,065 depositors reportedly losing around Rs 792 crore, the probe revealed.
Three FIRs were registered under Sections 316(2), 318(4), and 61(2) of the BNS and Section 5 of the TSPDEF Act, 1999. Initially investigated by Cyberabad Economic Offences Wing (EOW), the case was transferred to CID for a deeper probe.
Yogendra (38), a resident of Machabollaram in Secunderabad, had been absconding since February 2025, when the case was registered. He was arrested on his return to Hyderabad and produced before a magistrate on Tuesday.
Investigators found that Yogendra, along with Falcon Group MD Amardeep Kumar and others including Sandeep Kumar (Amardeep’s brother), used aggressive digital marketing — via Google, YouTube, Instagram and tele-callers — to lure investors.
After the scam surfaced earlier this year, Yogendra and Sandeep allegedly fled to Dubai, where the 38-year-old took over as CEO of another firm, Virgio Real Estate Pvt. Ltd., floated by Amardeep. CID is now tracking down the remaining accused. The investigation is ongoing.