February 18, 2025: In a staggering financial scam, thousands of Indian investors are scrambling to recover nearly $100 million after falling victim to a Ponzi scheme that promised high returns on short-term investments. According to a statement from the police and reports from multiple victims, the scam was carried out by Falcon Invoice Discounting, a platform that falsely claimed to connect investors with major corporations like Amazon and Britannia, offering returns as high as 22%.

Since its launch in 2021, Falcon has reportedly collected 17 billion rupees (approximately $196 million) from nearly 7,000 investors. However, the company has repaid only half of the money it received, leaving many investors in financial turmoil. Police took action over the weekend, arresting two individuals connected to the scam after a case was filed. Investigators are still searching for Amardeep Kumar, the founder of Falcon and the prime suspect in the scheme.

Among the affected investors is Ankit Bihani, a New Delhi-based jeweler, who met with 50 other victims last week to discuss potential legal actions. Together, they are hoping to recover 500 million rupees that were lost to the fraudulent scheme.

"Most of the investors found out about Falcon through social media and trusted the platform with their money," Bihani said, reflecting the widespread trust that led to the large-scale scam.

Falcon allegedly used money from new investors to pay older ones, a common characteristic of Ponzi schemes. The remaining funds were diverted to shell entities, making it harder for authorities to trace the illicit money flow.

Among the victims are tech employees, professors, and ordinary citizens who entrusted their hard-earned savings to Falcon. Roopesh Chauhan, a tech worker who lost 15 million rupees, expressed frustration and worry. "It is my hard-earned money. We don't know when and how we will get it back," he said.

S. Smriti, an assistant professor, reported losing over 3 million rupees in the scheme. "The money was all our savings," she said.

The case highlights a disturbing trend in India, where the rise of fraudulent investment platforms, often masquerading as legitimate businesses, has left countless individuals financially devastated. Authorities are concerned about the increasing number of such scams, which are being perpetuated through deceptive apps, websites, and call centers targeting unsuspecting investors.

As investigations continue, victims are left grappling with the uncertainty of whether they will ever recover the money they lost in the deceptive venture.