The Enforcement Directorate (ED) has seized a Hawker 800A private jet allegedly owned by Falcon Group Chairman Amardeep Kumar, who is the mastermind behind the ₹850 crore Falcon Scam. The jet, which was being operated under the guise of a commercial air ambulance, was confiscated at Rajiv Gandhi International Airport (RGIA), Hyderabad.
Falcon Group Chairman Used Private Jet for Dubai Getaways
Investigations revealed that Amardeep Kumar, who fled the country on January 22, 2025, had been using this jet for frequent trips to Dubai. The 1993-model Hawker 800A (N935H) was registered under Prestige Jets Inc., a US-based charter company, but was ultimately linked to Kumar. Sources confirmed that Kumar and his associate Vivek Seth used this aircraft to escape just before authorities initiated action against them.
Jet Bought Using Ponzi Scam Proceeds
According to ED officials, the jet was purchased in December 2023 for $1.6 million (₹13.94 crore) using money from the Falcon Scam. Investigations further revealed that the accused spent an additional ₹3 crore on luxury modifications to the aircraft’s interiors.
Falcon Group’s Ponzi Scheme: How Investors Were Cheated
The Falcon Group, run by Amardeep Kumar, lured investors through Falcon Invoice Discounting, promising high returns of 11-22% on short-term investments. Nearly 7,000 investors fell victim to the Ponzi scheme, with many in Bengaluru and Hyderabad losing crores of rupees. The scam collapsed in January 2025 when investor payouts stopped.
Aircraft Used as Revenue-Generating Air Ambulance
To generate illicit revenue, Kumar and his associates operated the jet as a medical air ambulance, charging $3,000–$3,500 per hour via booking platforms such as ICATT. They also outsourced ground handling operations to a Delhi-based company through a Dubai-registered service provider to conceal beneficial ownership.
ED’s Operation and Evidence Seized
Acting on a tip-off, ED officials reached RGIA on March 7 after learning that the aircraft was returning from London. The jet landed at 11:15 a.m., and ED officials conducted a thorough search, questioning the pilot, co-pilot, a woman crew member, and an employee of Prestige Jets Inc..
Mobile phones recovered from the crew contained crucial evidence, including payment records proving Kumar’s ownership and his involvement in funding the aircraft through proceeds from the Falcon Scam. The ED then seized the jet and launched an in-depth probe into its financial trail.
Key Accused and Further Investigations
The Cyberabad police’s Economic Offences Wing (EOW) had earlier arrested Pavan Kumar Odela, vice president of Capital Protection Force Pvt. Ltd., and Kavya Nalluri, director of Falcon Capital Ventures Pvt. Ltd. However, Falcon Group Chairman Amardeep Kumar, COO Aryan Singh, and CEO Yogender Singh remain absconding.
Authorities have also uncovered links between Falcon Group’s Ponzi operations and businesses in cryptocurrency, aviation, hospitality, and real estate, including Coin Trade and Prestige Jets Inc. Efforts are underway to recover diverted funds and identify more individuals involved.
ED Expands Investigation into Falcon Scam
With multiple FIRs filed across India, the ED has intensified its probe into money laundering activities linked to the Falcon Scam. More victims are expected to come forward as authorities track misappropriated funds and crack down on financial fraud networks operated by Amardeep Kumar and his associates.
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