ED arrests CA Amber Dalal accused of investment fraud in Mumbai

While seeking Dalal’s custody, the ED said that helium is the proprietor of Ritz Consultancy Services, which had raised concern from assorted persons and entities successful the sanction of concern and trading successful commodities, promising a monthly instrumentality of 1.5 to 1.8 per cent connected investments.

The ED claimed that wealth was deposited by investors successful 3 slope accounts and they were fixed returns regularly till February 2024 aft which Dalal went absconding.

The bureau further said that the institution was not registered with immoderate regulatory assemblage and much than 2,015 investors were duped of much than Rs 564 crore.

The EOW had alleged successful its chargesheet that Dalal had utilized the funds to screen losses incurred by him successful stock market trading alternatively of returning to the investors.

The ED alleged that the wealth was diverted done slope accounts of Dalal’s household members and funds were utilised for the intent of buying spot and investments successful their names. The bureau said that each these transactions were handled by Dalal and the household members were not alert of them.

The bureau said that it wants to probe into who the extremity users of the invested funds were and besides look into the properties purchased by Dalal successful India and abroad.

Dalal’s lawyer said that helium has been successful custody since March successful the EOW lawsuit and each the documents are already successful possession of the investigating agencies.

Special Judge A C Daga said that since it prima facie appears that Dalal is the mastermind down the offence and helium himself has dealt with the proceeds of crime, his custodial interrogation is needed.