India, July 19 -- The Enforcement Directorate (ED) has arrested Amardeep Kumar, who leads Falcon Capital Protection Force Private Ltd, also called the Falcon Group. He was taken into custody as part of a money-laundering investigation into an alleged Rs 792 crore fake invoice-discounting scam that deceived thousands of investors across India.

Kumar, who has been seen as the main person behind the scheme, was arrested under the Prevention of Money Laundering Act (PMLA). His arrest is a major step in the ongoing crackdown on what investigators call a Ponzi scheme disguised as invoice financing.

The ED says Capital Protection Force Pvt Ltd attracted investors using the "Falcon Invoice Discounting" app and website (www.falconsgrup.com), off...