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Former Deloitte partner allegedly duped investors: report
A former Deloitte partner is reportedly being chased by investors after they invested tens of millions of dollars in a private company he ran while working at the big four consulting firm.
Amberjit Endow during his time at Deloitte. Nicole Cleary
A group of the investors have now hired law firm Duxton Hill to trace the assets associated with an investment scheme linked to Amberjit Endow, a former senior partner at Deloitte, according to a report in The Age and The Sydney Morning Herald.
Mr Endow had reportedly promised returns of up to 40 per cent in six months if they lent him money to purchase what he said were bonds issued by the Indian government.
Investors in the scheme include Deloitte partners, professional services executives for other companies and even former AFL player and coach Rodney Eade, the papers reported.
The amount of money involved could be more than $60 million, the mastheads reported, quoting unnamed investors. Complaints about the scheme have been reportedly made to Victoria and NSW police, according to the report.
Mr Endow could not be reached via his mobile number.
A Deloitte spokeswoman told the mastheads the firm was making inquiries into Mr Endow’s conduct while he was at the firm.
“Endow Family Cap was run by Mr Endow, in his personal capacity, independent of Deloitte and was not sanctioned by Deloitte in any way,” the spokeswoman said.
“Any investments made by Deloitte Partners or employees will have been made independently in their personal capacity. While our internal processes require that partners and employees disclose their investments for the purposes of complying with our independence policies,
“Deloitte does not approve the nature of personal investments made by each partner. Mr Endow ceased to be a partner in January 2021 and given recent developments we are making inquiries in relation to his conduct.”
Mr Endow worked for Deloitte for 13 years between 2008 and 2021, according to his LinkedIn profile. During his time at the firm he was lead partner for robotics and intelligent automation and lead partner for analytics and cognitive.
He moved to another consulting firm, Sayers Group, for about six months in 2021, according to The Age and The Sydney Morning Herald.
The last entry in his LinkedIn profile states that he was “on a short break” between March and April of 2021.
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