Cyberabad Police Arrest Two in Ponzi Scam Case

Cyberabad police have arrested two individuals in connection with a Ponzi scheme case. The Economic Offenses Wing of the Cyberabad Police apprehended Kavya Nalluri, Director of Falcon Capital Protection Force, and Pawan Kumar Odela, Vice President of the same company.

Authorities have identified that the accused collected ₹1,700 crore from 6,979 investors under the pretense of investments. Despite raising such a large amount, they only repaid ₹850 crore to depositors. The remaining funds were allegedly transferred to 14 shell companies.

The Falcon Capital Protection Force ceased operations on January 15, leaving depositors in distress. In the ongoing investigation, the Cyberabad police have named a total of 20 individuals as accused in the case.