Amberjit Endow Interview with Finance News Network
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Now Missing Deloitte Senior Partner Amberjit Endow Ran $41 Million Investment Fraud via Endow Family Cap with 39.02% Returns in 6 Months to Invest in India Government Infrastructure Project, Investors Include Deloitte CEO Adam Powick & Deloitte Partners

18th February 2023 | Hong Kong

The now missing Australia former Deloitte senior partner Amberjit Endow had ran a more than $41 million (AUD 60 million) investment fraud via his private company (Endow Family Cap) promising investments of 39.02% returns for 6 months to invest in his family business servicing India government infrastructure project, with investors including Deloitte Australia CEO Adam Powick & many Deloitte partners.  Former Deloitte senior partner Amberjit Endow had worked at Deloitte for over 13 years.  Through his personal investment company Family Cap Pty Ltd, investors can buy bonds for infrastructure projects by Indian government (improve India’s rural road network).  For investment of more than AUD 250,000, investors can receive up to 39.02% in interest, with Amberjit Endow acting as guarantor to the loan (investment).  For investment of more than AUD 50,000, investors can receive 20.12% over 6 months.  In 2021, Amberjit Endow had left to join a consulting firm (Sayers Group, founded by his former PwC boss Luke Sayers) but left after 6 months.  According to Sayers Group, an internal review was conducted on Amberjit Endow personal business outside employment.  Deloitte employees are required to disclose investments and business interests, for potential conflict of interests, misconduct or reputation risks. Investors had hired boutique anti-corporate fraud company Duxton Hill to trace the money and potentially freeze the assets.  

“ Now Missing Deloitte Senior Partner Amberjit Endow Ran $41 Million Investment Fraud via Endow Family Cap with 39.02% Returns in 6 Months to Invest in India Government Infrastructure Project, Investors Include Deloitte CEO Adam Powick & Deloitte Partners “

 



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Email to Deloitte Partners by Deloitte Australia CEO Adam Powick on Investing into Amberjit Endow – Endow Family Cap

Amberjit Endow Interview with Finance News Network

Email to Deloitte Partners by Deloitte Australia CEO Adam Powick

Hi Partners,

It’s been an interesting 48 hours after the news broke of an allegedly fraudulent investment led by one of our ex partners, Amberjit Endow. It appears that Amberjit leveraged his personal networks inside and outside the firm to attract investors and unfortunately a number of Deloitte partners have been personally impacted.

There has been some speculation in the media about me personally and I can confirm that I was an investor, based on an initial approach from Amberjit. Like the other partners involved, this investment was in a purely personal and private capacity in line with our partner policies. My interactions regarding this investment have always been directly with Amberjit and at no time have I ever encouraged anybody else to be part of this investment. In The SMH and Age articles this morning, it is alleged that Amberjit used my name to attract other investors. If true, this was done completely without my awareness or permission, and I am appalled and extremely disappointed that my name would be used in this way.

In the interests of openness and transparency, something you know I believe to be a critical element of our culture, I have decided to release a personal statement to the media which I have attached. At the end of the day, I take full accountability for my personal investment decisions and the outcomes associated with these decisions.

As I remind myself on a regular basis, it is always important to reflect and learn along the way. And I can assure you, I have learnt a few salutary lessons from this experience.

Enjoy the rest of your week.

Adam




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