In a major crackdown on financial fraud, the Managing Director of Falcon Group has been arrested in connection with a massive digital investment scam worth ₹850 crore. Authorities acted swiftly after numerous complaints flooded in from defrauded investors across the country.
The scam involved luring victims with promises of high returns on digital investments, including cryptocurrency schemes and online trading platforms. Falcon Group’s MD, identified as the mastermind, allegedly orchestrated the Ponzi-like operation, siphoning off funds into personal accounts.
Police raids uncovered digital wallets, forged documents, and servers hosting fake investment portals. Over 10,000 investors reportedly lost their life savings, with some cases involving entire families wiped out financially.
Investigations revealed the gang used social media and WhatsApp groups to target middle-class professionals and retirees seeking quick profits. The arrest marks a significant breakthrough in tackling rising digital investment scams in India.
Law enforcement assures ongoing probes to recover assets and nab accomplices. Investors are urged to verify platforms through SEBI and RBI before investing. This case underscores the risks of unregulated digital investment schemes promising unrealistic returns.