ED arrests COO of Capital Protection Force in multi-crore Falcon scam

The Enforcement Directorate (ED), Hyderabad, arrested Aryan Singh, chief operating officer of Capital Protection Force Pvt. Ltd., in connection with the multi-crore Falcon invoice discounting scam.

Singh was taken into custody on Tuesday (September 2, 2025) under the Prevention of Money Laundering Act (PMLA), 2002, and produced before the Special PMLA Court in Hyderabad on Wednesday (September 3, 2025) which remanded him to 14 days’ judicial custody.

The ED’s action follows three FIRs registered by the Cyberabad Economic Offences Wing (EOW) alleging that Capital Protection Force, along with its promoters, defrauded thousands of investors by promising abnormally high returns.

At the centre of the case is Amardeep Kumar, the mastermind behind the ₹792-crore fraud.

According to the ED, Kumar developed and operated the Falcon app, marketed as an invoice discounting scheme. Investors were told that their money would be used to provide funds to companies in exchange for invoices, with the returns supposedly generated from discounted invoices. However, investigations revealed that no such business activity was ever carried out. Instead, the company allegedly ran a classic ponzi-style operation, diverting investor deposits for personal gain and to maintain the illusion of returns.

Aryan Singh, as COO, is accused of playing a key role in managing the fraudulent operations.

The ED said Singh had full knowledge that no legitimate invoice discounting business existed, yet he actively encouraged fresh investments, supervised employees who promoted the scheme, and interacted with investors to build trust. He also allegedly assisted Kumar in diverting funds and personally received proceeds of crime worth ₹2.88 crore into his personal bank accounts and the account of his entity, Karaoi (OPC).

The ED had earlier seized a Hawker 800A aircraft, attached movable and immovable assets worth ₹18.14 crore and arrested Sandeep Kumar, the brother of Amardeep Kumar, and chartered accountant Shard Chandra Toshniwal.

Further investigation is under way.