Hyderabad, March 9 -- The Enforcement Directorate (ED) has seized a business jet parked at the Hyderabad airport as part of a money laundering investigation against a Hyderabad-based company and its promoters who allegedly duped numerous investors in a '850 Crore Ponzi "scam", official sources said on Saturday.
The money laundering case stems from a Cyberabad police FIR against Falcon Group (Capital Protection Force Pvt Ltd), its CMD Amar Deep Kumar and some others, the sources said.
It is alleged that the Falcon Group "collected" '1,700 Crore from investors for high returns through a "fraudulent" invoice discounting investment scheme.
'850 Crore, out of the total funds, was re-paid leaving a total of 6,979 investors unpaid, according to...