Who is Vikas Sakhare, arrested in Rs 792 crore Falcon Scam

Hyderabad: An online scheme promising unbelievable returns involving 7,056 depositors has turned into one of Hyderabad's biggest scams.

Meet Vikas Sakhre, who has been arrested by the Telangana Crime Investigation Department for ‘collection of deposits’, criminal breach of trust, cheating and criminal conspiracy.

What is the fraud about?

Vikas cheated depositors by developing the Falcon Invoice Discounting Application (www.falconsgrup.com) and creating fake deals in the name of reputed MNCs.

He induced the depositors on the pretext of high interest rates with short-term plans and collected about Rs 4,215 crores from 7,056 depositors, out of which 4,065 victims were cheated to the tune of about Rs 792 crores by the Capital Protection Force Private Limited Company working under the Falcon Invoice Discounting App.

Who all are involved?

The former COO of Falcon Group is Vikas Kumar Sakhare, who played an active role in the offence

Modus operandi: The accused’s company, Capital Protection Force, developed the Falcon Invoice Discounting Application. The app was advertised through social media platforms such as Google, YouTube, and Instagram.

Tele-callers created fake deals in the name of MNCs and collected crores of rupees as deposits from the persons, and issued invoice receipts and agreements, successfully cheating the public.

Vikas Kumar Sakhare (A27) colluded with the main accused, Amardeep Kumar (A2), the MD of the Falcon Group and Capital Protection Force, and other accused persons to attract gullible depositors. Further, Yogendra Singh (A4) also helped with the fraudulent collection of deposits.

On credible information, Vikas Kumar Sakhare was apprehended by the CID Team

Public advisory

People are requested not to believe online schemes promising unbelievable returns and not to invest their hard-earned money into such online schemes.