Nagpur: A COMPANY tricked investors by promising high returns on online investments and then ran away with their money. Among the victims was Kapesh Vijay More (47), a District and Session judge of Nagpur, who lost Rs 13.5 lakh in the scam reported Hitavada.

Ambazari Police have registered a case against Amardeep Kumar, Managing Director of Falcon Invoice Discounting and a user of ICICI Bank account No. 111405002, under Capital Protection Force Pvt Ltd.

Judge More learned about the Falcon Invoice Discounting platform from a close relative who had been investing for four to five years and making good profits. After seeing his relative’s success, he decided to invest.

First, he invested Rs 24,000, and after 48 days, Falcon returned Rs 24,439 to his bank account.

Later, he invested Rs 50,000, and after 52 days (on January 6), he received Rs 50,794.

He then invested Rs 13.5 lakh in different company invoices through Falcon.

On February 3, he invested Rs 1 lakh in an invoice for Lifestyle in Hyderabad, but the amount was not credited to his Falcon account.

When he tried to contact Falcon, no one responded. Even the helpline was unavailable, and his relative also stopped answering calls.

According to police, this scam appears to be a type of Ponzi scheme, where fraudsters lure people with 8% to 28% returns and then vanish with their money. Several such platforms are running similar scams.

Once the judge realized he had been cheated, he filed a complaint at Ambazari Police Station. The police have now registered a case and are investigating the fraud.