In a landmark first for India, the Directorate of Enforcement (ED) has successfully auctioned a seized Hawker 800A private jet for ₹3 crore (approximately US$350,000) as part of a major money laundering investigation linked to an alleged ₹792 crore (approximately US$92.4 million) Ponzi scheme.
The aircraft was auctioned through the MSTC platform by the ED’s Hyderabad Zonal Office on July 1, 2026, marking the first time the agency has sold a seized aircraft under the Prevention of Money Laundering Act (PMLA).
The Hawker 800A was originally seized during a search operation at Rajiv Gandhi International Airport on March 7, 2025, in connection with an investigation involving Amardeep Kumar, Capital Protection Force Pvt. Ltd. (also known as Falcon Group), and others.
The seizure was confirmed by the PMLA Adjudicating Authority in August 2025. Later, in November 2025, the authority granted permission to auction the aircraft under the Prevention of Money Laundering Rules, paving the way for the historic sale.
According to the ED, the money laundering case originates from three cases registered by the Economic Offences Wing (EOW), Cyberabad. Investigators allege that Falcon Group and its associates defrauded investors of nearly ₹792 crore (US$92.4 million) through a fraudulent invoice discounting scheme that promised unusually high returns without conducting any legitimate business.
During the investigation, the ED arrested Sandeep Kumar, brother of the main accused Amardeep Kumar, Chartered Accountant Sharad Chandra Toshniwal, and Aryan Singh Chhabra, CEO of Falcon Invoice Discounting. A prosecution complaint was filed before the designated PMLA court in September 2025.
The ED has stated that the ₹3 crore (US$350,000) recovered from the aircraft auction will be used for restitution to genuine investors, subject to approval from the Special PMLA Court.
The investigation into the alleged financial fraud remains ongoing, with authorities continuing efforts to trace and recover additional assets connected to the case.
