ED Seizes Private Jet of Absconding Falcon Group Chairman in ₹850-Crore Falcon Scam
The Enforcement Directorate (ED) has seized a private jet linked to the ₹850-crore Falcon Scam, intensifying its probe into financial irregularities involving Falcon Group Chairman Amardeep Kumar. The aircraft, a Hawker 800A (N935H), was seized at Rajiv Gandhi International Airport (RGIA) as part of the ongoing money laundering investigation. ED Seizes Hawker 800A Jet (N935H) from Hyderabad Airport in Falcon Scam Probe Falcon Group Chairman Used Ponzi Scheme Funds to Buy Jet Investigations have revealed that Falcon Group Amardeep Kumar purchased the private jet in 2024 for $1.6 million (₹14 crore) through Prestige Jets Inc., allegedly using proceeds from the Ponzi scheme. The Falcon Group had collected ₹1,700 crore from investors, promising high returns under a fraudulent scheme. While ₹850 crore was refunded, 6,979 investors are yet to recover their money. Authorities discovered that Amardeep Kumar and another associate fled to Dubai on January 22 using the same aircraft before an FI...