Another huge financial fraud case has come out,this time from Telangana and numbers are just shocking . A senior executive from a big company like Worldline E-Payment Gateway has been arrested by CID.
And we are talking about a scam worth around ₹4,215 crore . It's a massive amount,not small thing ah .
So basically,the whole thing was run through application and website called Falcon Invoice Discounting . They were luring thousands of investors with promises of high returns,making it seem like they were investing in invoices of big multinational companies.
But CID investigation says this senior executive,Sheik Mohideen,was involved in this whole mess . He allegedly helped facilitate unauthorized deposits from investors and was even complicit in creating fake investment deals to keep people putting money in.
And honestly,this is where it gets very disturbing. A person in such high position using his knowledge to enable this kind of fraud .
The scale of this operation is just mind-boggling . According to CID,they collected ₹4,215 crore from over 7,056 depositors . Out of this,around ₹792 crore was misappropriated through one company called M/s Capital Protection Force Private Limited,which was running the Falcon platform.
Few key things to note here:
- fraud allegedly collected ₹4,215 crore from more than 7,000 investors .
- Senior exec Sheik Mohideen was arrested for helping facilitate fraudulent transactions.
- His payment gateway company reportedly earned ₹77.53 crore in revenue from these operations only .
And get this,the company Worldline E-Payment Gateway apparently made about ₹77.53 crore just in transaction-related revenue from this whole operation . That itself raises so many questions about their internal checks and balances.
This arrest has obviously sent a big shock through financial sector . When people see a reputed payment gateway involved,they tend to trust the platform more . But incidents like this break that trust completely.
Right now,the accused has been remanded to judicial custody and CID is continuing their investigation . But with so much money and so many people involved,you just wonder how deep this whole thing goes…
