ED to auction seized aircraft linked to Falcon scam

The Directorate of Enforcement (ED), Hyderabad, has announced the auction of a seized Hawker 800A aircraft, presently parked astatine Begumpet Airport. The aircraft, bearing registration fig N935H, volition beryllium unfastened for inspection until December 7, with the auction scheduled for December 9 done MSTC Limited. The proceeds volition beryllium utilized to compensate victims of the alleged fraud.

The craft was seized connected March 7, 2025 from Rajiv Gandhi International Airport during searches conducted nether the Prevention of Money Laundering Act (PMLA), successful transportation with a lawsuit involving Amardeep Kumar, Capital Protection Force Pvt. Ltd., and others.

The ED began its probe pursuing 3 FIRs registered connected February 11 by the Cyberabad Economic Offence Wing (EOW) against Falcon Group (Capital Protection Force Pvt. Ltd) and its CMD, Amardeep Kumar, for allegedly moving a bogus invoice-discounting scheme. Investigators recovered that the scheme, operated nether the banner ‘Falcon Invoice Discounting’, defrauded investors of ₹792 crore.

According to the agency, Amardeep Kumar fled the state utilizing the aforesaid craft earlier the FIRs were filed and remains absconding abroad. The ED has truthful acold provisionally attached assets worthy ₹18.63 crore and arrested 3 individuals - Amardeep’s member Sandeep Kumar; chartered accountant Sharad Chandra Toshniwal; and Capital Protection Force Pvt. Ltd COO Aryan Singh Chhabra. A prosecution ailment was filed earlier the Special PMLA Court, Rangareddy, connected September 29.

Investigators recovered that the craft was purchased by Amardeep Kumar successful 2024 for ₹1.6 million. After its seizure, the ED secured confirmation of attachment from the Adjudicating Authority connected August 18. Citing precocious attraction costs, the bureau sought support to merchantability the craft nether Rule 4(2) of the Prevention of Money Laundering (Taking possession of attached oregon frozen properties) Rules, 2013. Approval to auction was granted connected November 20.

Further probe is nether way.