The Economic Offences Wing (EOW) of Mumbai, investigating the high-profile Torres Scam, has made its seventh arrest. The accused, identified as Lallan Singh, is alleged to have laundered black money through various financial institutions. According to EOW officials, Singh facilitated the conversion of approximately ₹13.78 crore of black money into white, which was then used to establish the business operations of Torres Jewellery in Mumbai.
During the investigation, bank account scrutiny revealed that Platinum Hern Pvt Ltd received ₹13.78 crore from multiple entities. The funds, initially in cash, were deposited into various financial institutions before being transferred to Torres Company's account. The amount was reportedly utilized for the business operations of Torres Jewellery.
Authorities further examined several bank accounts linked to Platinum Hern Pvt Ltd and its associates, uncovering suspicious transactions and links to other organizations.
Earlier, the EOW had arrested six people in connection with the scam, including Tania Kasatova alias Tajgul Arxanova Khasatova, Valentina Ganesh Kumar, Sarvesh Surve, hawala operator Alpesh Khara from Girgaon, CEO Tausif Riaz alias John Carter and Ukrainian national Armen Eytan, who has acted as a foreign character in Bollywood films.
The scam, masterminded by a Ukrainian national, caused massive financial losses to thousands of investors. Eight Ukrainian nationals and one Turkish national, all accused in the case, are currently absconding. The police have issued a Blue Corner Notice against key suspects, including Olena Stoyan, Viktoria Kovalenko, Mustafa Karakoch, Oleksandr Boravyk, Oleksandr Zhapychenko, Oleksandra Brunkiwska, Oleksandra Tredokhib, Artem Oliferchuk, and Iyurchenko.