ED Attaches Assets Worth Rs. 22.86 Crore in Money Laundering Probe Against Ponzi Scheme Operator Amber Dalal
(Judicial Quest News Network)
The Directorate of Enforcement (ED), Mumbai Zonal Office, has provisionally attached assets valued at approximately Rs. 22.86 crore in connection with a money laundering case involving Amber Dalal and his associates. The attached assets include land parcels, residential flats in Thane and Mumbai, as well as insurance policies and investments linked to Dalal and his family members, and his accomplice, Ms. Rashmi Prasad.
The action follows an investigation triggered by an FIR filed by Mumbai Police against Dalal, the proprietor of M/s Ritz Consultancy Services. Dalal is accused of running a Ponzi scheme, duping over 1,300 investors of more than Rs. 600 crore. He promised high returns, but after providing initial payouts, absconded with the funds. Part of the illicit funds were allegedly used to purchase properties, while others were diverted to individuals like Ms. Prasad, who has already had a Dubai-based flat worth Rs. 4.95 crore attached.
Earlier, the ED conducted search operations in June and September 2024, freezing assets worth approximately Rs. 39 crore. With the latest attachment, the total value of seized assets in this case has now risen to around Rs. 67 crore. Investigations are ongoing.
