Amber Dalals’ Deceptive Investment Scheme Unveiled!
The Oshiwara police initiated legal action on March 15 against Amber Dalal, accusing him of deceiving numerous investors out of Rs 54 crore. The Economic Offences Wing (EOW) of the Mumbai police apprehended Amber Dalal, a chartered accountant and investment advisor, in Uttarakhand. He stands accused of orchestrating an extensive Ponzi scheme, allegedly siphoning off hundreds of crores of rupees from over 1,000 investors across India and abroad.
Over 600 investors have already come forward, asserting losses exceeding Rs 380 crore, with more expected to join the legal proceedings. DCP Sangramsinh Nishandar confirmed Dalal’s arrest, highlighting the seizure of two mobile phones and a laptop from him. Dalal appeared before a court and was remanded in police custody until April 1.
Operating under Ritz Consultancy Services Company, Dalal purportedly enticed investors with monthly returns ranging from 1.5% to 1.8%. Victims spanned over 1,023 individuals globally, including countries like the UK, the US, Australia, China, and Dubai.
The case filed by a Juhu-based fashion designer triggered the police investigation, alleging Dalal’s false promises of risk-free investments and monthly returns. Initially, investors trusted him, reinvesting larger sums, until the company defaulted on payments in March 2024.
Several investors, including actor Annu Kapoor’s family, found themselves entangled in the scheme, with investments ranging from Rs 10 lakh to Rs 10 crore. Senior citizens, relying even on pension funds, were not spared. The EOW conducted searches at Dalal’s premises, freezing over 20 bank accounts linked to him.
Dalal faces charges under various sections of the Indian Penal Code and the Maharashtra Protection of Interest of Depositors Act. The EOW is intensifying efforts to trace the diverted funds and ascertain if they were used for personal gain, urging victims to report to their offices to facilitate investigations.
[Image Source: NDTV YT]
