ED Seizes ₹14 Crore Private Jet in Hyderabad Money Laundering Case Linked to ₹850 Crore Scam
ED Seizes ₹14 Crore Private Jet in Hyderabad Money Laundering Case Linked to ₹850 Crore Scam
ED Seizes ₹14 Crore Private Jet: The Enforcement Directorate has seized a ₹14 crore private jet linked to a ₹850 crore Ponzi scam in Hyderabad. The jet, owned by Falcon Group’s CMD Amar Deep Kumar, was allegedly purchased using scam money. Read the full investigation details here.
ED action in money laundering case, famous industrialist’s private jet worth Rs 14 crore seized. The Enforcement Directorate has taken major action in a money laundering case against a company and its promoters in Hyderabad. ED has seized a private jet worth about Rs 14 crore under investigation.
Action on Falcon Group’s Ponzi scam
These promoters have allegedly defrauded crores of rupees from several investors in the Ponzi scam. Sources said the money laundering case is linked to a local police FIR against Falcon Group (Capital Protection Force Private Limited), its CMD Amar Deep Kumar, and others.
ED Seizes ₹14 Crore Private Jet: CMD fled abroad using a jet
According to the information, the company’s CMD Amar Deep Kumar has fled the country using this jet. He or his company could not be immediately contacted for reaction to the allegations.
According to information received by PTI, the ED found that the 8-seater business jet ‘N935H Hawker 800A’ (owned by Kumar’s company) landed at Hyderabad International Airport in Shamshabad on Friday, after which it was seized.
ED Seizes ₹14 Crore Private Jet: The jet was bought for $1.6 million
The jet was bought in 2024 for around $1.6 million. ED officials searched the jet today as part of the money laundering case and also recorded the statements of Kumar’s crew and some “close associates” present there.
He said the commercial plane owned by Kumar’s private charter company, Prestige Jets Inc., has been seized. The agency believes that the jet was bought with scam money earned from the alleged Ponzi scheme.
The case is of a scam of 850 crores
The ED sought a general declaration from the Customs Department about the movement of the jet, after which it was found that Kumar had left the country on January 22 by boarding the said plane along with another person. Let us tell you that an investment fraud of Rs 850 crore has been allegedly committed in this scam.
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