Anmol Seth: ‘Fraudonaire extraordinaire’

A photo on Anmol Seth's Facebook page, the plane and vehicles are actually owned by football star Emmanuel Adebayor

A photo on Anmol Seth’s Facebook page, the plane and vehicles are actually owned by football star Emmanuel Adebayor

by Stephen Cook

A CONMAN posing as a billionaire businessman has swindled millions of dollars out of Indian investors through a highly theatrical web of deceit and the bogus promise of sky-high returns on phoney investment opportunities.

Over the past decade, smooth-talking Anmol Seth has built a formidable reputation on the broken hopes and dreams of vulnerable Indian investors who have sunk millions of dollars into his bogus companies.

Seth – who resides in Flatbush, Auckland – operates at least 50 fictitious companies in New Zealand under the umbrella of the ‘Anmol Group’ and regularly posts on Facebook and Twitter about his glamorous jet-set lifestyle and involvement in multimillion-dollar business deals.

“Secured entire file for another large client with $40Million+ Turnover; have been working with on them for just over 14 months…the hard-work has finally paid off,” he boasted on Twitter back in 2013.

Through those bogus companies, it is understood Seth – who poses as a qualified lawyer and accountant – has made large GST claims on start-up ventures that never materialize.

On one of his many websites, the practiced con and consummate liar claims ‘we offer a world of opportunity which encourages people to help each other succeed, and achieve excellence through continuous improvement and innovation’.

Those unfortunate to have done business with Seth have an altogether different view of the serial fraudster.

One North Island businessman – who asked not to be named – described Seth as a ‘charlatan without conscience’.  

He says Seth was introduced to him in 2013 through a middleman with connections to another practiced conman, who for legal reasons cannot be named. Seth told him he was an international business consultant and self-made billionaire with expertise in accounting and finance. “I saw his cars and was impressed. He had a Lamborghini, Bentley, Rolls Royce and Ferrari and thought this guy was the real deal,” the businessman said.

“During our discussions, Seth said he owned 35 hotels in New Zealand – including the Mercure and Copthorne – and claimed he had recently purchased a casino in Macau. There seemed no reason to doubt him.”

At the time the businessman was looking to arrange finance for a nightclub deal in Auckland and Seth offered his assistance. He organised a bank loan of $150,000 for the man, but the deal fell over after going unconditional following issues with the lease.

Nevertheless, the businessman was so impressed with Seth and his ability to access finance he retained his services for a hotel deal in the South Island, involving Auckland lawyer Graham Hare.

He recalls during those initial discussions about the hotel deal Seth boasting about a planned trip to Africa for the Christmas Holidays.

“He told me he had been invited by the King of one of the African nations to spend Christmas with him and would be sending a private jet to collect him. Graham Hare was there at the time,” the businessman said.

“It was obviously big talk. But, I suppose like the hotels and casino, we took him at his word.”

Shortly after Hare and the businessman acquired the South Island hotel, they employed Seth to set up the various accounting systems for the business.

At the time there were ructions between Hare and the businessman after Hare proposed to gift a 30 per cent share in the business to another party. The proposal was in response to concerns from Hare’s wife, deputy Health and Disability Commissioner Rose Wall, who apparently ‘did not trust Indians’ and wanted someone else on board to keep an eye on the day-to-day operations of the company.

Seth advised the businessman against the deal.

As an alternative, he suggested the businessman give him 20 per cent of his shares as “insurance’ against any future claim from Hare.

Discussions on the proposal never went any further, but Hare and the businessman retained Seth as a consultant.

In February last year he travelled to the South Island to put in place the accounting systems for the business but was sent packing after three days.

“He had no idea what he was doing so I sacked him,” the businessman said.

What the businessman didn’t know at the time was that Seth had retained access to the business bank accounts.

In the month of February, the businessman said Seth made unauthorised withdrawals of $32,000 from the company account – money that has never been recovered despite complaints to the bank and police.

The businessman said police were unable to prosecute Seth because they could not prove the device, which he used to misappropriate the funds was actually his.

He was told he could pursue a civil claim against the serial conman but said that would cost thousands of dollars.

“This guy is a crook and a thief. He robbed me blind and the thing is that he is still out there doing business – still ripping people off left right and centre. He needs to be stopped. He needs to be put in jail,” the businessman said.

Whaleoil attempted to contact Seth but he did not return our phone calls or text messages.

Nevertheless, it appears time could be running out for Anmol Seth.

Whaleoil can confirm a complaint was filed this week with Inland Revenue’s Integrity Unit detailing Seth’s various methods of conning money out of people.

The letter of complaint alleges Seth has stolen millions of dollars from the Indian community by using a well-known Auckland conman and an Indian ‘groomer’ to obtain access to clients – and their bank accounts.

The complaint says Seth pretends to be a qualified lawyer, accountant and billionaire when in fact he is as ‘fraudonaire extraordinaire”.

IRD have been told that Seth could easily be prosecuted under the Securities Act 1978 for obtaining funds from the public without a prospectus.

 

TOMORROW: ANOTHER BUSINESSMAN WHO’S FALLEN PREY TO ANMOL SETH


cookStephen Cook is a multi award winning journalist and former news editor and assistant editor of the Herald on Sunday.


Do you want:

  • Ad-free access?
  • Access to our very popular daily crossword?
  • Access to daily sudoku?
  • Access to Incite Politics magazine articles?
  • Access to podcasts?
  • Access to political polls?

Our subscribers’ financial support is the reason why we have been able to offer our latest service; Audio blogs. 

Click Here  to support us and watch the number of services grow.

As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

To read Cam’s previous articles click on his name in blue.

31%