Thousands of investors in India are scrambling to recoup nearly $100 million after they were caught in a Ponzi scheme that duped them into making short-term investments promising high returns, according to a police statement and multiple victims Reuters spoke to.

The scheme promised high returns by claiming to connect investors with major brands like Amazon and Britannia.

Thousands of investors have lost around ₹870 crore ($100 million) in a Ponzi scheme by Falcon Invoice Discounting. Police have arrested two, but the scheme’s founder is on the run, leaving victims uncertain about their life savings.

Indian police have arrested two individuals linked to Falcon Invoice Discounting, a Ponzi scheme that duped nearly 7,000 investors out of $100 million

Thousands of Indian investors are struggling to recover nearly $100 million lost in a Ponzi scheme operated by Falcon Invoice Discounting. The company lured investors with promises of up to 22% returns, falsely claiming partnerships with major corporations like Amazon and Britannia.

Indian police arrested two individuals on Saturday after a case was filed against Falcon Invoice Discounting, which promised returns of up to 22%