Fri Feb 21 13:31:27 UTC 2025: ## ED Launches Probe into ₹850 Crore Ponzi Scheme
**Hyderabad, February 21, 2025** – The Enforcement Directorate (ED) has initiated a probe into an ₹850 crore ponzi scheme operated by the Falcon Invoice Discounting Platform, following a First Information Report (FIR) filed by the Cyberabad Police’s Economic Offences Wing (EOW). The ED has registered an Enforcement Case Information Report (ECIR), the agency’s equivalent of an FIR, to investigate potential money laundering under the Prevention of Money Laundering Act (PMLA).
Two key figures, Pavan Kumar Odela and Kavya Nalluri, associated with Capital Protection Force Pvt. Ltd. and Falcon Capital Ventures Pvt. Ltd., have already been arrested by the EOW on February 15th and charged under the Bharatiya Nyaya Sanhita (BNS) and the Telangana State Protection of Depositors of Financial Establishment Act.
The Falcon platform, operating since 2021, fraudulently attracted thousands of investors by promising high returns and falsely linking itself to reputable companies like Britannia, Amazon, and Godrej. The scheme, which collapsed on January 15th, 2025, when payments ceased, operated on a classic ponzi model, using new investments to pay earlier investors. Authorities allege that ₹1,700 crore was collected, with ₹850 crore repaid before the scheme’s collapse, leaving 6,979 depositors with significant losses.
Investigations have revealed that siphoned funds were channeled into various businesses, including Coin Trade, UKIYO Resort, and Prestige Jets. The ED’s investigation will focus on tracing the remaining ₹850 crore and identifying further suspects. The arrested individuals also have prior links to a 2022 multi-level marketing scam, indicating a history of fraudulent activity. The ED’s probe is expected to lead to further arrests and asset seizures.
First Piper 