ED seizes private jet in connection with Rs. 850 crore Falcon scam at Hyderabad Airport

Hyderabad: On Friday, March 7, 2025, the Enforcement Directorate (ED) seized a Hawker 800A jet (N935H) at Rajiv Gandhi International Airport (RGIA), allegedly owned by Amardeep Kumar, the main accused in the ₹850 crore Falcon scam. The jet was reportedly used by Kumar to flee to Dubai on January 22, accompanied by an associate.

Earlier, on February 15, the Cyberabad police arrested Pavan Kumar Odela, Vice President, and Kavya Nalluri, Director of Falcon Capital Ventures, in connection with the scam. However, key executives, including Amardeep Kumar, are still on the run.

The ED confirmed that Amardeep Kumar is the real owner of the jet, which was bought in 2024 for $1.6 million (₹14 crore) through Prestige Jets Inc. Investigators claim that the money used to purchase the jet came from the proceeds of the Falcon Group's Ponzi scheme.

After the jet landed in Shamshabad, the ED seized it and questioned the crew members. They also recorded a statement from one of the accused's close associates.

The Falcon scam involved a fraudulent investment scheme that promised high returns through invoice discounting. The group raised ₹1,700 crore from investors, but while ₹850 crore was paid back, 6,979 investors were left without their money.

ED Seizes Private Jet in ₹850 Cr Falcon Scam

The Enforcement Directorate (ED) has seized a Hawker 800A jet at Hyderabad's RGIA, linked to the ₹850 crore Falcon scam. The jet, allegedly owned by prime accused Amardeep Kumar, was reportedly bought using scam funds and used for… pic.twitter.com/V7S87BNiz8

— Hyderabad Mail (@Hyderabad_Mail) March 8, 2025