The Economic Offences Wing (EOW) of the Mumbai Police has uncovered crores of cash during a raid at Torres’ Dadar office in connection with the ongoing investigation into the Torres jewellery scam. Acting on a tip-off, an EOW team entered the office and has so far seized three bank accounts belonging to Torres. Reports indicate that these accounts contain approximately Rs 11 crore, reported ABP news.
According to the report, Rs 5-6 crore in cash is still stored in a locker at Torres' Dadar office. The EOW team has reached the location to conduct the investigation. Following the revelations, large numbers of investors have gathered outside the Dadar office, prompting the deployment of a significant police force to maintain order.
The EOW has reported that over 1,500 investors have already approached the police, with this number expected to rise. Many victims, including local vegetable vendors from Dadar, invested substantial sums in Torres, lured by promises of high returns. Some even took out loans to invest. However, with the closure of the Torres company, these investors have suffered significant financial losses.
The police have arrested three individuals in connection with the scam: Sarvesh Surve, Tania Kasatova, and Valentina Kumari. Meanwhile, two key accused, Tausif Riaz and Abhishek Gupta, remain absconding, and a lookout notice has been issued against them. Preliminary information suggests that the founder of Platinum Hern, associated with the scam, has fled the country.
The scam has reportedly impacted over 1.5 lakh investors in Mumbai and Navi Mumbai. Victims were enticed by promises of exorbitant returns, leading many to invest their savings or take loans to participate in the scheme. The closure of the company has left these investors in financial shock. The EOW continues to investigate the case and is working to trace the absconding accused while examining further evidence.