Over hundred-plus investors based out of India, the majority from US, followed by Dubai, are completely clueless about the ongoing EOW probe’s progress and the status of their investments, claims an investor who wrote to mid-day from the US. The investor claims that over $47 million (approximately Rs 390 crore) of investors is at stake.
 
The investor added that Amber Dalal owns a property in Dubai, and they had even extracted the property number from the Dubai Land Department. mid-day reached out to the Dubai Land department, to verify the details of a property owned by Amber. But an official who spoke, cited his inability to share any such information, stating that it was ‘personal and confidential information.’

“Amber attracted two types of overseas investors: those in the USA, mainly in California, New Jersey, North and South Carolina, and others from around the world, notably Dubai, which had the second highest number of investors. Over the years, his personable demeanour and track record built trust among investors, many of whom had been with him for eight to 10 years. While initially relying on word of mouth, in September 2023, he introduced a new scheme promising 1.5 per cent extra returns with funds to be returned by March 2024,” said the investor.