Mumbai-based CA Ambar Dalal Flees as Hundreds of Investors Descend on Oshiwara Police Station; Rs 1,000+ Crore Ponzi Scheme Unveiled
Mumbai, 16th March 2024: A startling development has rocked Mumbai as Chartered Accountant Ambar Dalal, associated with Ritz Consultancy, has absconded, triggering a flood of investors converging on the Oshiwara Police Station following the revelation of a Ponzi scheme exceeding Rs 1,000 crores.
The fraudulent scheme, entangling more than 900 investors, came to light recently following the filing of an FIR against CA Ambar Dalal under the banner of Ritz Consultancy. Dalal’s modus operandi revolved around enticing investors with the promise of a monthly 2% return alongside assurances of capital preservation, leading to a substantial influx of investments, particularly from senior citizens. However, the illusion of financial security shattered when investors failed to receive their March payouts, prompting inquiries into the matter.
Concerns reached a crescendo when Dalal’s family disclosed his disappearance from March 14th at 10 a.m., having lodged a missing person report with the Oshiwara Police Station. The case has since been taken up for investigation under the supervision of Senior Police Inspector Mohan Patil.
