Nagpur: In a startling revelation, an online investment platform has defrauded investors under the guise of lucrative returns. Shockingly, among those trapped in this fraudulent scheme is a District and Sessions Judge from Nagpur. The judge reportedly lost ₹13.5 lakh to Falcon Invoice Discount, a digital investment platform. Following the fraud, a case has been registered, as per a report in Lokmat, a local Marathi daily.
According to the report, the judge, who has been serving in Nagpur for several years, learned about the platform through a close relative who had been investing for four to five years and claimed to have earned good returns. Encouraged by these assurances, the judge decided to invest, starting with ₹24,000. After 48 days, the platform credited ₹24,439 to his bank account. This initial success boosted his confidence, leading him to invest ₹50,000. Upon completion of 52 days on January 6, the judge received ₹50,794, further reinforcing his trust in the platform, the report added.
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Wednesday 12 March 2025
The report further said that gradually, the judge invested a total of ₹13.5 lakh in various invoices through Falcon. However, trouble began on February 3 when ₹1 lakh was invested in an invoice from Lifestyle, Hyderabad, but the amount was never reflected in the Falcon account. Attempts to contact the company were futile — no one answered calls, and even the helpline remained unresponsive. Alarmingly, even his relative, who had initially introduced them to the platform, was unreachable. It soon became evident that Falcon had scammed multiple investors in a similar fashion.
Realizing the fraud, the judge lodged a complaint at Ambazari Police Station, leading to a case against Falcon Invoice Discount’s director, Amardeep Kumar.
A classic ponzi scheme?
While police officials refrained from making official statements, sources suggest that this fraud follows the pattern of a Ponzi scheme. Many such platforms lure investors by promising unrealistically high returns—ranging from 8% to 28%—before eventually disappearing, leaving victims in financial ruin.
