ED Cracks Down: Freezes Rs 36.21 Crore Assets in Major Money Laundering Case

The Enforcement Directorate has attached Rs 36.21 crore in assets from Amber Dalal in a money laundering investigation. Dalal allegedly swindled Rs 600 crore from 1,300 investors through a Ponzi scheme. The ED continues its probe into the scheme, seizing assets in multiple locations and filing a prosecution complaint.

The Enforcement Directorate (ED) has taken significant action in its ongoing money laundering investigation by attaching assets valued at approximately Rs 36.21 crore. These assets are linked to chartered accountant Amber Dalal and others, as part of a complex financial fraud case. The agency made this announcement on Tuesday.

The assets seized encompass 10 immovable properties located in the urban hubs of Mumbai and Kolkata. Additionally, the ED has frozen movable assets, including fixed deposits, stocks, mutual funds, and alternative investment funds. This move is part of the ED's intense scrutiny under the Prevention of Money Laundering Act (PMLA), 2002.

The investigation stems from a First Information Report by the Mumbai Police, accusing Amber Dalal, who operates Ritz Consultancy Services, of orchestrating a Ponzi scheme. According to the ED, Dalal gathered over Rs 600 crore from 1,300 investors with false promises of high returns. The agency has also identified commission agents who benefited financially without conducting due diligence. In a further development, a prosecution complaint has been filed against Dalal, who remains in judicial custody as the investigation progresses.

(With inputs from agencies.)