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.

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

The scheme promised high returns by claiming to connect investors with major brands 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%

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.