Latest news with #SandeepKumar
Time of India
17 hours ago
- Business
- Time of India
Brother of key accused & cousin held in Rs 792 crore Falcon investment scam
Hyderabad: The Crime Investigation Department (CID) arrested two more persons in connection with the Rs 792 crore Falcon investment fraud case, bringing the total number of arrests to nine. The police also seized three luxury cars and property documents from the accused. Sandeep Kumar, one of the arrested, worked as operations head of Capital Protection Force Pvt Ltd, the organisation behind the Falcon Invoice Discounting Application. He is the younger brother of the company's chairman and managing director, Amardeep Kumar. The second accused, Ravi Kumar, is his cousin. The suspects used the Falcon Invoice Discounting Application to create fictitious transactions under the names of well-known multinational companies, enticing investors with the promise of substantial short-term returns. They collected Rs 4,215 crore from 7,056 individuals. About 4,065 of these depositors lost a total of Rs 792 crore. After the case was filed in Feb of this year, Sandeep fled to Dubai, but later re-entered India illegally via Nepal. He initially sought refuge in Bihar before moving to Odisha and finally arriving at his cousin Ravi's residence in Hyderabad. Following his arrest, officials confiscated three luxury cars worth Rs 2.5 crore, including a Mercedes-Benz and a Range Rover, as well as property documentation worth Rs 10 crore. The CID is investigating three Falcon investment cases against the accused, while eight additional cases have been registered in six other states. Investigations revealed that Sandeep had transferred over Rs 8.45 crore to personal accounts. The CID continues to search for the remaining suspects.
The Hindu
17 hours ago
- Business
- The Hindu
Key accused in ₹4,215-crore Falcon scam nabbed in Hyderabad; luxury cars seized
The Telangana Crime Investigation Department (CID) has arrested Sandeep Kumar, one of the masterminds behind the Falcon invoice discounting scam, along with his accomplice, Ravi Kumar. The arrest took place in Hyderabad on Tuesday, in a case that spans multiple states and involves thousands of duped investors. Seized during the arrests were three luxury cars — a Mercedes GLS 400D, a Range Rover Velar, and an Innova Crysta — valued at ₹2.5 crore, along with 14 property documents worth ₹10 crore, mobile phones, cash and ID cards. Sandeep Kumar, operations head of Capital Protection Force Pvt. Ltd. and younger brother of company MD Amardeep Kumar, had been absconding after fleeing to Dubai. According to the CID, he illegally re-entered India via the Nepal border and moved across Bihar, Odisha, Goa and finally back to Hyderabad, where he was sheltered by his cousin, Ravi Kumar. Director of CID, Shikha Goel said the scam, operated through the Falcon Invoice Discounting app ( lured depositors with fake short-term investment deals purportedly linked to reputed multinational companies. Over ₹4,215 crore was collected from more than 7,000 individuals. Initial estimates suggest around ₹792 crore was siphoned from over 4,000 victims. The CID has, so far, registered three primary cases under relevant sections of the Bharatiya Nyaya Sanhita and the Telangana Protection of Depositors of Financial Establishments Act. Eight more cases are pending across six States including Karnataka, Maharashtra, West Bengal, Rajasthan, Andhra Pradesh and Delhi. 'Sandeep Kumar diverted ₹845 crore into personal and associated company accounts. The CID is continuing efforts to apprehend remaining suspects, including CEO Yogendra Singh, who is believed to be in the UAE,' said
The Hindu
20 hours ago
- General
- The Hindu
Woman held ‘hostage' in video call scam for over a day in Chalakudy; ₹40,000 lost
A woman in Chalakudy was held hostage over a video call for more than a day by cyber fraudsters who manipulated her into transferring money through a series of threats. The victim, identified as Treesa from Melur, has filed a complaint with the cyber police regarding the incident on Tuesday. According to the complaint, the scammer appeared on a video call dressed in a police uniform and falsely claimed that a duplicate SIM card issued in Treesa's name had been used by a man named Sandeep Kumar for illegal activities. The fraudster warned her not to leave the room and threatened that if the information was leaked, Sandeep's associates would come after her. Fearing for her life, Treesa remained locked inside her room for nearly 36 hours. During this time, the fraudster instructed her to transfer nearly ₹3 lakh from her bank account to what he claimed was a 'government account.' When Treesa said she was unfamiliar with online transactions, she was told to go to the bank and deposit the amount directly. Limit on account She went to the bank and attempted to transfer ₹2.6 lakh to the fraudster's account. However, due to a limit on the account, the transaction could not be completed. The scammer then directed her to use Google Pay to send the money in smaller instalments. Treesa ended up transferring around ₹40,000 through multiple transactions to various numbers. Repeated requests for money finally raised her suspicions and she informed her relative about the calls. Later, Treesa lodged a formal complaint with the cyber cell, and an investigation is now under way.
Hindustan Times
a day ago
- Business
- Hindustan Times
13 booked for ₹71.5 lakh loan fraud using fake IDs in Gurugram
At least 13 suspects have been booked for allegedly defrauding a private sector bank of ₹71.5 lakh by availing personal loans using forged documents and diverting the funds to Mumbai, police said on Tuesday. According to investigators, the loans were issued between May 2022 and February 2024 from a Sector 14 branch of a reputed private bank. The fraud came to light in February this year after the bank initiated an internal inquiry when several borrowers stopped paying their monthly instalments. A senior police officer said the so-called customers were later found to be non-existent, having used fake documents to pose as employees of well-known automobile and spare parts manufacturing firms in Gurugram. All had submitted forged salary slips, bank statements, and employment records, allegedly showing 4–8 years of service. 'These 13 'ghost' customers had submitted six common residential addresses. However, during verification, none of them were found to reside there,' the officer said. 'There is a strong possibility that either some bank officials have connived with the suspect to clear the loans or they didn't carry out any physical verification of the addresses and loans were disbursed only on the basis of documents to meet target pressures,' he added. Police further revealed that loan proceeds from 10 customers were transferred to a Mumbai-based logistics firm, while the remaining three transferred funds directly into the firm owner's account immediately after loan disbursal. Sandeep Kumar, public relations officer of Gurugram police, said the Economic Offences Wing (EOW) is investigating. 'They will arrest the suspects soon on the basis of the evidence,' he added. Based on a complaint filed on March 3 by the bank's regional officer, an FIR was registered Monday at Sector 14 police station under IPC sections 120B, 420, 467, 468, and 471. .
Time of India
2 days ago
- General
- Time of India
Memorial park dedicated to Operation Sindoor to come up in Bhuj
Ahmedabad: A memorial park in the form of a high-density micro forest dedicated to , India's military response to the Pahalgam terror attack, will be built near Bhuj town in the Kutch district bordering Pakistan. Tired of too many ads? go ad free now Spread across eight hectares, the park, to be called 'Sindoor Van' (Sindoor Forest), will feature different sections dedicated to the Indian armed forces — the Army, Navy, and Air Force, as well as the Border Security Force (BSF), said Sandeep Kumar, chief conservator of forests, Kutch Circle. Kutch district shares both land and maritime borders with Pakistan. The site earmarked for 'Sindoor Van' at Mirzapar village near Bhuj includes a portion of land where Prime Minister Narendra Modi addressed a public meeting on May 26 during his first visit to Gujarat after Operation Sindoor, he said. "We will grow nearly 80,000 plants, herbs, shrubs, and climbers of about 40-45 species in this park dedicated to Operation Sindoor to amalgamate the bravery and courage of our armed forces in this park," explained Kumar. The park will also serve as lungs for the town and spread a message of environmental conservation, he stated. "Operation Sindoor will be the central theme of this park. We will create different sections dedicated to the Army, Navy, Air Force, and BSF in the park and install murals of defence equipment and platforms such as INS Vikrant, drones, and the S-400 missile system to spread awareness," informed Kumar. During the event on May 26, Modi met some of the surviving women who helped in rebuilding the airfield in Bhuj, which was bombed during the 1971 war with Pakistan. "At that time, these brave women gave a sapling of the Sindoor (vermillion) tree to the PM. That gave us the idea of creating a micro forest on the Sindoor theme. We will also plant saplings of the Sindoor tree or Bixa orellana in this park," said Kumar.
