Jammu: Top bosses of Hyderabad-based company booked for fraud with Falcon app
Jammu: The Crime Branch of Jammu and Kashmir Police has booked the managing director of a Hyderabad-based Capital Protection Force Pvt Ltd for a multi-crore investment app scam.
One of the complainants in the matter was an army officer who lost money investing in the ‘Falcon Invoice Discounting app,’ an officer said.
Rajasthan native Major General Rajat Jagani alleged that he was duped of more than Rs 2.21 crore by the company and named its managing director Amardeep Kumar, directors Anita Kumari and Sandeep Kumar, and several other key executives, as the main culprits.
He claimed that Amardeep Kumar, an Indian national currently living in Dubai, is the main accused in the Falcon app fraud.
Jagani said the firm duped thousands of Indian investors of crores by falsely promising high returns through a ponzi-style scheme, the crime branch officer said.
Another complainant, Pardeep Kumar Gupta, a resident of Jammu’s Lakhdatta Bazar area, alleged that he lost Rs 62 lakh investing in the app after being promised “high returns.”
Gupta alleged that the executives of Capital Protection Force misled investors with fabricated vendor profiles via social media promotions, fake deals, and claimed to have partnerships with reputed multinational companies.
Jammu Senior Superintendent of Police (Crime) Benam Tosh said an FIR has been registered in connection with the matter at the Economic Offences Wing Police Station.
