Mumbai: The Directorate of Enforcement (ED), Mumbai provisionally attached immovable and movable assets valued at Rs 22.86 crore of chartered accountant and investment consultant Amber Dalal under the provisions of Prevention of Money Laundering Act (PMLA).
Dalal had allegedly raised over ₹600 crore from 1,300 investors in suspected ponzi scheme. The attached asset include immovable properties, land parcels, residential flats situated in Thane and Mumbai districts of Maharashtra and movable assets including insurance policies and investments of Amber Dalal & his family members and his accomplice Ms. Rashmi Prasad.
Earlier a residential flat belonging to Ms. Rashmi Prasad situated at Dubai, United Arab Emirates valued at Rs 4.95 Crore was also provisionally attached.
In June ED had raided multiple locations in Mumbai in connection with the case against Amber Rameshchandra Dalal accused in f duping 2009 investors, mostly from Mumbai, to the tune of Rs 1,100 crore and seized assets worth ₹37 crore in money-laundering probe.
The chartered accountant and investment consultant operated a Ritz Consultancy Services and raised money from investors on the pretext of investment funds in commodities such as, gold, silver, crude oil, natural gas, zinc, lead, nickel, copper, aluminum and promising an annual return of 18%- 22% to investors.
The Mumbai Police Economic Offence Wing had arrested Amber Dalal for duping over 600 investors and the case was later taken over by ED.
The initial police probe had revealed a network of entry operators who channelised the cash raised by Amber Dalal by providing accommodation entries in his bank account. The payment raised from new investment were utilised to pay out the monthly returns to the old investors to keep the ponzi scheme afloat.
