The special PMLA court remanded chartered accountant (CA) Amber Dalal, owner of M/s Ritz Consultancy Services, to judicial custody till December 16 in a money laundering case filed against him by the Enforcement Directorate (ED).
ED had taken Dalal’s custody on November 28 for duping more than 2015 investors to the tune of Rs 564 crore approximately while his company was not registered with any regulatory body.
Dalal operated 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 accused paid the investors with returns regularly till February 2024, thereafter he went absconding.
The ED had launched a probe into money laundering allegations after the Economic Offences Wing (EOW) registered a case against him on the complaint of investors. The case was registered on March 14 and Dalal was arrested on March 26.
The agency which began the probe recently, has provisionally attached immovable and movable assets valued at Rs22.86 crore. These assets included immovable properties including land parcels, residential flats situated in Thane and Mumbai and movable assets including insurance policies and investments of Dalal and his family members and his accomplice Rashmi Prasad. Earlier, one residential flat belonging to Prasad situated at Dubai, UAE valued at Rs4.95 crore also provisionally attached.
