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The ED team reached the airport to seize the business jet. Promoters are accused of cheating investors Rs 850 crore.
ED seized a business jet from Rajiv Gandhi International Airport in Hyderabad on Saturday. According to sources, the ED is investigating money laundering against the Falcon Group of Hyderabad and its promoters.
The case is related to the FIR lodged against Hyderabad Police’s Falcon Group (Capital Protection Force Private Limited), its CMD Amardeep Kumar and some others. Promoters are accused of cheating investors Rs 850 crore.
It is alleged that Falcon Group collected Rs 1700 crore from investors through fraudulent invoice discounting investment scheme. 850 crore was returned from the total funds. 6,979 investors were not paid.
Jet came to the airport on 7 March Sources said that CMD Amar Deep Kumar of Falcon Group has run away from the country using this jet. ED’s Hyderabad Office found that an 8-seater business jet (N935h Hawker 800A), owned by a company of Kumar, landed at the Rajiv Gandhi International Airport on 7 March.
ED questioned crew ED officials searched the jet purchased for about Rs 14 crore in 2024. The officers also recorded the statements of the crew and Kumar’s close associates present there. After this, the business plane owned by Kumar’s private charter company named Prests Jets Ink was seized after searching.
Amar Deep Kumar escaped on 22 January The investigating agency believes that Jet was purchased from the alleged Ponzi scheme money. The ED had sought information from the Customs Department about the movement of jet. After which it was found that Kumar had gone out of the country on 22 January with another person. However, the vice president and director of the company has been arrested.
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