Mumbai-based CA Ambar Dalal absconds as hundreds of investors throng Oshiwara Police Station; Ponzi Fraud of Rs 1,000+ crores comes to light
Mumbai-based CA Ambar Dalal absconds as hundreds of investors throng Oshiwara Police Station; Ponzi Fraud of Rs 1,000+ crores comes to light
In a shocking turn of events in the city, CA Amber Dalal of Ritz Consultancy has absconded, leaving hundreds of investors thronging the Oshiwara Police Station as a Ponzi fraud of over Rs 1000 crores comes to light.
The fraud, involving over 900 investors, came to light last evening after an FIR was filed against Chartered Accountant Amber Dalal under his company name Ritz Consultancy. His modus operandi was to lure investors by promising a 2% return per month with a legal guarantee of capital safety, resulting in large numbers of investors and senior citizens investing in his company. The matter came to light after investors did not receive their payment for March and started inquiring about the same.
They were then informed by Amber Dalal’s family that he has been missing since March 14th, 10 am, and they had already filed a missing report with the Oshiwara Police Station. The case is being investigated by Sr PI Mohan Patil.
The complainant has filed the FIR at Oshiwara Police Station on 15th March 2024.
The Oshiwara Police has booked Ambar Dalal under Sections 420, 406, 409 of the Indian Penal Code (IPC) and Sections 3, 4 of the Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, 1999.
Shreyas Vange
