Two Arrested inRs 850 Crore Falcon Ponzi Scheme in Telangana
The Cyberabad police have arrested two individuals in connection with a massive Rs 850 crore Ponzi scheme operated under the guise of real estate investments. The police have urged the public to exercise caution before investing in schemes promising unrea
Ponzi SchemeReal EstateCyberabad PoliceTelanganaFraudulent InvestmentsReal EstateFeb 17, 2025
The scheme, which operated under the name 'Falcon Real Estate,' is believed to have duped hundreds of investors, totaling a staggering Rs 850 crore.
The arrests were made after a thorough investigation that included tracking the flow of funds, identifying key players, and collecting evidence from multiple sources.
The primary targets, identified as Ravi Kumar and Suresh Reddy, were found to be the masterminds behind the fraudulent operation.
They are accused of using a classic Ponzi scheme model, where new investments were used to pay returns to earlier investors, creating a false sense of legitimacy.
According to the police, the scheme promised investors high returns of up to 20% per month, which is significantly higher than the market average.
This unrealistic promise lured many unsuspecting individuals, including retirees and small investors, who were looking for quick financial gains.
The operation primarily targeted the middle and lower-middle class, who were often misled by the slick marketing tactics and testimonials from early investors who seemed to have benefited.
The Cyberabad police have been working on this case for several months, collaborating with the Telangana State Forensic Science Laboratory (TSFSL) and the Income Tax Department.
The investigation revealed that the funds were laundered through a complex network of shell companies and fake accounts, making it challenging to trace the money.
In a press conference, the Deputy Commissioner of Police (Cyber) stated, 'We have seized numerous assets, including properties, vehicles, and bank accounts, which are believed to have been acquired through this fraudulent scheme.
Our investigation is ongoing, and we are committed to bringing all the perpetrators to justice.'
The public has been urged to remain vigilant and report any suspicious activities to the nearest police station.
The police have also set up a helpline number and a dedicated email address for victims to lodge their complaints and provide additional information.
This case serves as a stark reminder of the risks associated with high-yield investment schemes.
Investors are advised to conduct thorough due diligence before committing their hard-earned money to any investment opportunity, especially those that promise unrealistic returns.
It is crucial to verify the credentials of the investment firm, check their track record, and seek professional advice when in doubt.
The Telangana State Government has also issued a public notice, warning citizens to be cautious and avoid falling prey to such fraudulent schemes.
The government has pledged to take stringent action against all those involved in fraudulent activities and to strengthen regulatory measures to prevent such incidents in the future.
Despite the arrests, the investigation is far from over.
The police are now focusing on identifying other accomplices and tracing the remaining unseized funds.
The public's cooperation is vital in this ongoing effort to bring the perpetrators to justice and recover the lost money for the victims.
For more information, the Cyberabad police have provided a list of frequently asked questions for the public.
If you or anyone you know has been affected by this scheme, please reach out to the authorities immediately for assistance.
Frequently Asked Questions
What is a Ponzi scheme?
A Ponzi scheme is a fraudulent investment operation that pays returns to investors from their own money or the money paid by subsequent investors, rather than from profit earned by the individuals running the business. This creates a false sense of legitimacy and often leads to significant financial losses for the investors.
Who were the main suspects arrested in the Falcon Ponzi scheme?
The primary suspects arrested in the Falcon Ponzi scheme are Ravi Kumar and Suresh Reddy. They are believed to be the masterminds behind the fraudulent operation.
What returns were promised to the investors in the Falcon scheme?
The Falcon scheme promised investors high returns of up to 20% per month, which is significantly higher than the market average and had a strong appeal to many unsuspecting individuals.
What measures are the police taking to recover the lost funds?
The Cyberabad police have seized numerous assets, including properties, vehicles, and bank accounts, believed to have been acquired through the fraudulent scheme. The investigation is ongoing to identify other accomplices and trace the remaining unseized funds.
How can I report suspicious investment schemes?
To report suspicious investment schemes, you can contact the nearest police station or use the dedicated helpline number and email address provided by the Cyberabad police. It is crucial to report any such activities to prevent further financial losses.
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