The Telangana CID has arrested the former chief operating officer (COO) of Falcon Group in connection with the Rs 792 crore deposit "fraud". Vikas Kumar Sakhare, who played an active role in the offence, was arrested at his residence here on Wednesday, CID Additional Director General Charu Sinha said in a release. The case pertains to "unauthorised" collection of deposits wherein the accused "cheated" the depositors, by developing Falcon Invoice Discounting Application and created fake deals in the names of reputed MNCs, induced the depositors under the pretext of high interest rates and collected about Rs 4,215 crores from 7,056 depositors. Out of that, 4,065 people were cheated to the tune of Rs 792 crores by the Capital Protection Force Private Ltd, working under Falcon Invoice Discounting App, it said. On the complaints of victims, three cases were registered under relevant sections of BNS and the Telangana State Protection of Depositors of Financial Establishment Act, 1999 at t