Thousands of Investors in India Hit by $100 Million Ponzi Scheme

INIndia|

In a shocking financial fraud, nearly 7,000 investors in India are grappling with losses amounting to nearly $100 million due to a Ponzi scheme operated by Falcon Invoice Discounting, according to police reports. The authorities in Telangana state arrested two individuals connected to the case on February 17, 2025, as the scheme promised returns of up to 22% by falsely claiming to link investors with major companies like Amazon and Britannia.

Since its inception in 2021, Falcon allegedly collected approximately 17 billion rupees (about $205 million), but has only repaid half of that amount. Many victims, some who lost their entire savings, have joined together to explore legal options to recover their funds. "Most of them got to know about the investing platform through social media," said Ankit Bihani, a jeweler who organized a meeting of distressed investors. Now, as investigations continue, authorities are actively searching for the scheme's founder, Amardeep Kumar.

Concerns are growing over a rise in fraudulent investment schemes in India, with many victims unaware they were being scammed until it was too late.

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