It has been revealed that the directors, managers, and other officials of Torres Company defrauded investors of crores of rupees by promising a 10% return on investments every week, only to declare bankruptcy. Following this, hundreds of investors gathered outside the company’s offices in Dadar (Mumbai), Turbhe (Navi Mumbai), and Mira-Bhayandar on Monday. Angry investors in Turbhe even resorted to pelting stones at the company’s office.
A case of fraud involving Rs 13 crore has been registered against five individuals associated with Platinum Horn Company, which operates under the Torres brand, including its director, Sarvesh Ashok Surve. The complaint was filed at the company’s Dadar office by Pradeepkumar Mamraj Vaishya (31), a vegetable seller. The matter is now under investigation by the Economic Offences Wing (EOW), said Shivaji Park Police Station.
On Monday, hundreds of investors clashed outside the Torres Vastu Centre building on J.K. Sawant Marg in Dadar, creating a tense atmosphere in the area. The Shivaji Park police intervened and managed to bring the situation under control. Similarly, tension erupted outside the company’s Turbhe office, where an angry mob of investors pelted stones. The police acted swiftly to control the situation.
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According to reports, the directors of Torres Company carried out the fraud between December 21 and 30, 2024. During this period, Platinum Hern Pvt. Ltd., along with its directors Sarvesh Ashok Surve, Victoria Kovalenko, CEO Taufik Riaz (alias John Carter), General Manager Tania Kasatova, and Store Manager Valentina Kumar, convinced investors to invest in Mozonite stone purchases, promising a 10 percent weekly return on their investments. As per the police complaint, investors were lured by this scheme and invested ₹13.48 crore.
The Chain of Investors:
The scheme grew rapidly as investors were offered a 10 to 20% commission for bringing in new participants. Many investors convinced their relatives and friends to invest. Reportedly, investors were also enticed with mobile phones and other expensive items as additional incentives. The company even sold gold at its Turbhe office. However, investors are now questioning the authenticity of the gold sold by the company.
When Mumbai Police took action against the company’s Dadar branch, investors gathered in large numbers outside the Turbhe office. The APMC police intervened, dispersed the crowd, and brought the situation under control. As of late Monday night, the process of registering a fraud case at the APMC police station was still underway.