The Economic Offences Wing (EOW) has initiated proceedings to distribute ₹35 crore worth of seized assets in the Torres Brand investment fraud case. The EOW has submitted an application to the court, aiming to provide some relief to the defrauded investors.
The scam, operated through Platinum Hern Pvt. Ltd. under the name "Torres Brand," lured around 1.25 lakh investors with promises of double returns. A case was registered at the Shivaji Park Police Station, and the EOW is currently investigating the matter.
During the probe, the EOW arrested six accused and seized approximately ₹35 crore in assets, including cash, bank deposits, gold, silver ornaments, and precious stones. Steps are now being taken to distribute these assets among the victims.
So far, 12,783 investors have filed complaints with the EOW, reporting a total fraud amounting to ₹130 crore. The asset distribution is expected to provide partial relief to these victims.
The EOW has arrested six people in connection with the scam including Tania Kasatova alias Tajgul Araksanova Khasatova, Valentina Ganesh Kumar, Sarvesh Surve, hawala operator Alpesh Khara from Girgaon, CEO Tausif Riaz alias John Carter and Ukrainian national Armen Aten, who has acted as a foreign character in Bollywood films.
The case highlights the extent of the financial fraud and the ongoing efforts of the EOW to recover and redistribute funds to the affected investors. Further investigations are underway.