Torres Ponzi scheme case
Torres jewellery company is accused of defrauding investors of crores of rupees through a combination of Ponzi and multi-level marketing (MLM) schemes. According to officials, more than 3,700 investors have so far approached the Mumbai Police with complaints of being cheated.
The scam came to light in December 2024 when hundreds of investors gathered at the Torres Vastu Centre in Dadar, Mumbai, after the company stopped making promised returns and there was no payment. As per the complaint filed at the Shivaji Park police station, people were encouraged to invest in gold, silver, and moissanite jewellery, were lured by promises of high returns, including cars, flats, and gift hampers.
EOW investigating the case
As part of their investigation, the EOW conducted raids at multiple locations, seizing cash and jewellery worth crores of rupees from the arrested individuals connected to the scheme.
Mumbai Police also arrested Sarveh Ashok Surve (30), a resident of Umerkhandi in South Mumbai; Tania alias Tazagul Karaxanovna Xasatova (52), an Uzbek national; and Valentina Ganesh Kumar (44), a Russian national.
According to the official, Surve, an Aadhaar card operator, was named as a director of Platinum Hern Private Limited Company (that floated the brand Torres Jewellery). Tania served as the company's general manager, while Valentina was the store in-charge.
ED freezes bank deposits worth Rs 21 crore
The ED on Friday froze bank deposits worth more than Rs 21 crore of Mumbai-based Torres Jewellery group. The Enforcement Directorate (ED) said it covered the residential premises of Surve, director of the company, in Umarkhadi (Mumbai); offices of associated entities such as Gemethyst in Kishanpole Bazar of Jaipur, and Stellar Trading Company in Jaipur's Johri Bazar and Kalbadevi in Mumbai.
(With PTI inputs)
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