The Telangana CID has made more arrests in the Falcon invoice discounting scam, nabbing two more persons believed to be instrumental in defrauding investors of over ₹4,200 crore.

Two more accused, Rabindra Prasad Singh, 63, and Susma Raj, 31, were apprehended in Bihar on May 17 by a CID special team. Both are natives of Bihar, said the Director of CID, Shikha Goel. “Crucially, they are close family members of Amardeep and Sandeep, the alleged masterminds of the racket who remain on the run. Amardeep, the chairman and managing director of Capital Protection Force Pvt. Ltd., and Sandeep, his partner, allegedly orchestrated the elaborate con through their platform, Falcon Invoice Discounting,” said the officer.

Both Rabindra and Susma were not only aware of the scheme but actively participated in it. “They are accused of receiving proceeds from the fraudulent operation and fleeing Hyderabad when the scam surfaced,” added the Director.

The CID recovered incriminating evidence including ₹8 lakh in cash, high-value fixed deposits, gold jewellery, mobile phones, electronic devices, passports, bank cards and property documents. These seizures, CID said, point to the extent of wealth amassed through the fraud. Further assets bought with illicit funds have been identified during interrogation.

The duo is being brought to Hyderabad on transit remand and will be produced before a magistrate. They have been booked under Sections 316(2), 318(4), and 61(2) of the Bharatiya Nyaya Sanhita (BNS), along with Section 5 of the Telangana Protection of Depositors of Financial Establishments (TSPDEF) Act, 1999.

The Falcon scam, one of the largest recent white-collar frauds in the State, revolves around a deceptive platform, www.falconsgrup.com, which promised high returns through fake invoice discounting deals purportedly involving reputed multinational companies. Using aggressive social media advertising and tele-callers, the company lured 7,056 depositors, of whom at least 4,065 are believed to have lost ₹792 crore.

The operation was run under the corporate banner of Capital Protection Force Pvt. Ltd., originally a manpower supply firm. According to the CID, Rabindra Singh launched the firm, which was later taken over by his son Amardeep. Investigators say Susma Raj, wife of Sandeep, also benefitted from the scam and enjoyed a lavish lifestyle fuelled by the proceeds.

Three cases registered initially with the Economic Offences Wing (EOW), Cyberabad, have since been transferred to the CID for further investigation.

In a public advisory, the CID has urged citizens to remain wary of online Ponzi schemes promising sky-high returns and warned that stringent action would be taken against anyone found running or promoting such operations. The hunt for the remaining absconding accused continues.