Archive · 19 May 2025
Multiple Arrests in Financial Scams Across Multiple Locations
Several financial scams have led to numerous arrests.
One involved a fake invoice discounting scheme that promised high returns, resulting in significant losses for investors.
Another was a crypto coin scam, GBR Crypto Coin, where investors were also deceived by the promise of high returns.
Authorities have apprehended individuals associated with these fraudulent activities in multiple locations.
Additionally, authorities busted a GST fraud, arresting individuals who were generating fake bills.
The scams all involved false promises of returns.
Multiple arrests were made in connection with financial scams, including the Falcon Invoice Discounting scam.
Two individuals, Rabindra Prasad Singh and Sushma Raj, were arrested in Bihar for their involvement in the Telangana scam.
The GBR Crypto Coin scam led to the arrest of Kodavatikanti Sudhakar and Karnati Ramesh Reddy, increasing the total custody to eight.
A separate case uncovered a ₹156 crore fraud involving the creation of fake companies to evade GST.
Authorities recovered assets and cash from the arrested individuals related to the scams.
- Who
- Multiple individuals were arrested in connection to various financial scams. These include Rabindra Prasad Singh, Sushma Raj, Kodavatikanti Sudhakar, and Karnati Ramesh Reddy.
- What
- Multiple financial crimes were reported, including the Falcon Invoice Discounting scam, the GBR Crypto Coin scam, and a GST fraud involving fake firms.
- When
- Arrests were made around May 17-19, 2025.
- Where
- Across multiple locations including Bihar, Hyderabad, and Patna.
- Why
- To defraud investors through fake investment schemes and GST fraud.
- Scam Types
- Falcon Invoice Discounting, GBR Crypto Coin, GST Fraud
- Total Amount Defrauded
- Over ₹4,300 crore (approximate)
- Arrests in Telangana Scam
- Multiple arrests across Bihar and Hyderabad
- GBR Crypto Scam Amount
- ₹95 crore
- GST Fraud Amount
- ₹156 crore
- Number of Depositors Duped
- Approximately 7,056 (Falcon), 1,200-1,400 (GBR)
Sources
Falcon scam: Telangana CID nabs two family members of absconding accused in Bihar
CID arrests two more in Falcon investment scam
CID makes two more arrests in ₹95 crore GBR Crypto scam
Two arrested in city for T’gana money scam case
Five held after Kanpur police bust extortion gang led by traffic SI, home guard, female PRD jawan
