CA who cheated 600 of Rs 380 crore nabbed from Dehradun hotel
MUMBAI: A chartered accountant who has allegedly duped at least 600 investors of more than Rs 380 crore in an investment fraud was arrested by the city police on Tuesday. The arrested accused, Ambar Dalal (59), director in Ritz Consultancy Services, was nabbed near Dehradun in Uttarakhand. He was brought to Mumbai on Wednesday where a special court remanded him in police custody till Apr 1.
A fashion designer from Juhu had lodged a criminal offence against him at Oshiwara police station. The complainant had invested Rs 54.5 lakh through him since April last year until recently.
The arrested chartered account has been accused of collecting funds from people for investment but failing to pay profits as promised. Funds in at least 20 bank accounts held by Dalal and his company have been frozen, the police said.
Dalal had rolled out the investment schemes in 2010, assuring investors of annual returns of anywhere between 20% and 22%, the police said. He had told his investors that he would invest their funds in commodities — crude oil, zinc, copper, aluminium, lead, gold, silver, nickel and natural gas.
