Hyderabad, Sep 3
The Enforcement Directorate (ED) has arrested Aryan Singh, Chief Operating Officer of Capital Protection Force Pvt Ltd, in connection with the Rs 792 crore Ponzi scheme disguised as an invoice discounting platform.
ED said in a statement on Wednesday that it initiated an investigation on the basis of three FIRs registered by the Economic Offence Wing, Cyberabad, wherein it was alleged that Amardeep Kumar, Capital Protection Force and others fraudulently cheated gullible investors on the pretext of high returns on their investments.
The ED had earlier seized a Hawker 800 A aircraft in the case; attached movable and immovable properties worth Rs 18.14 crore, and arrested Sandeep Kumar (brother of main accused Amardeep Kumar) and Shard Chandra Toshniwal, Chartered Accountant. Further investigation is in progress, the agency added.