Mumbai: Chartered accountant booked for duping people of Rs 54.4 cr through Ponzi scheme

According to police, the accused allegedly lured investors by promising a return of 2 per cent per month, with a legal guarantee of capital safety.The accused also claimed to be registered with international brokers for the same, he said.

A case has been registered against a Mumbai-based chartered accountant for allegedly duping people of Rs 54.4 crore through a Ponzi scheme, police said on Saturday. Based on a complaint, the Oshiwara police on Friday registered a first information report against Amber Dalal, a chartered accountant, under sections 420 (cheating), 406 (criminal breach of trust), 409 (criminal breach of trust by a public servant, banker, merchant, or agent) and other relevant provisions of the Indian Penal Code, an official said.

Dalal, who was operating out of a rented premises in Andheri, has shut his office and has been absconding for the last two days, the official said. According to police, the accused allegedly lured investors by promising a return of 2 per cent per month, with a legal guarantee of capital safety.

The accused also claimed to be registered with international brokers for the same, he said. The fraud came to light when investors did not receive their payment for this month and Dalal's family informed them that he had been missing for the last two days and a missing person's report was filed with the Oshiwara police station, the official said.

Some investors also plan to approach the Economic Offences Wing (EOW) of the crime branch, one of the victims said.

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