CHENNAI – A Hyderabad-based peer-to-peer (P2P) web platform, Falcon Invoice Discounting (FID), has allegedly defrauded investors across India of hundreds of crores of rupees, sparking widespread concern and legal action. While the company’s operations were centered in Hyderabad, investors in Tamil Nadu, along with those in several other states, have been caught in the wake of the alleged scam.
Falcon Invoice Discounting, which operated through a mobile app and website, lured investors with promises of high returns on unpaid invoices of established companies. The company raised funds from individual investors, presenting it as a secure and lucrative investment opportunity. Initially, Falcon reportedly made timely payments to investors, fostering trust and encouraging them to increase their investments.
However, starting in January 2025, payments began to be delayed, raising alarm among investors. By February 10, the company had abruptly shut down its operations, leaving thousands of investors nationwide in a state of panic and uncertainty.
The scale of the alleged scam is staggering, with estimates suggesting that Falcon Invoice Discounting collected hundreds of crores of rupees from investors. One investor alone, a doctor, reported a staggering loss of Rs 5 crore.
The alleged scam has prompted a wave of legal action. Cyberabad police have already filed three criminal cases against the company’s management, and complaints continue to pour in from investors across the country. At least 60 investors have come forward with complaints of being deceived, and over 1,000 investors have connected on social media platforms to seek justice and coordinate their efforts.
The geographical reach of the scam is extensive, with investors affected in states such as Andhra Pradesh, Telangana, Delhi NCR, Karnataka, Maharashtra, Gujarat, and Tamil Nadu. Reports indicate that investors from states such as Rajasthan, Haryana, Kerala, Odisha, Bihar, Karnataka, Punjab, and even Himachal Pradesh, Arunachal Pradesh, Tripura, and Ladakh have also fallen victim to the alleged fraud.
In Tamil Nadu, the Cyber Crime Wing, which specializes in handling organized cybercrimes and cyber financial fraud, may be called upon to investigate the matter. The public can reach the cybercrime helpline by calling 1930.
While the exact number of investors affected in Tamil Nadu remains unclear, the nationwide scope of the Falcon Invoice Discounting scam serves as a stark reminder of the risks associated with online investment platforms and the importance of due diligence before committing funds. Investors are urged to exercise caution and to report any suspicious activity to the authorities. The investigation into Falcon Invoice Discounting is ongoing, and authorities are working to bring those responsible to justice and recover the lost funds.
