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Finshots Daily
Did Amber Dalal run a Ponzi scheme?
Apr 3, 2024
Chartered Accountant Amber Dalal allegedly ran a Ponzi scheme, defrauding investors worldwide. The podcast delves into the intricate details of the scheme, tactics used to deceive investors, and regulatory interventions. Investors hope for recovery from the 14-year long Ponzi scheme.
06:13
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Quick takeaways
- Ambar Dalal ran a Ponzi scheme by promising high returns and relying on word of mouth referrals.
- Authorities are investigating regulatory oversights and potentially seizing Dalal's properties to recover funds.
Deep dives
The Ponzi Scheme Structure
The podcast discusses how the fraudster, Ambar Dalal, allegedly defrauded investors through a classic pyramid or Ponzi scheme. The scheme involved promising high returns, creating a facade of credibility by showcasing expertise in trading, initiating a cycle of returns to entice more investors, relying on word of mouth referrals for new investments, and maintaining a low profile to avoid detection. Dalal managed to sustain this scheme for around 14 years under the guise of Ritz Consultancy Services Company.
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Discover
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