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In a major development in the ₹142-crore investment fraud case that duped over 15,000 investors from Mumbai, Navi Mumbai, Thane, and Mira-Bhayandar, the key accused from an international racket has been traced in Ukraine. The Economic Offences Wing (EOW) of the Mumbai Police has begun the formal extradition process to bring the accused back to India. According to senior officials, the main accused, Ihor Yurchenko, has been located in Ukraine. The information was shared with the Mumbai Police by Ukrainian authorities through local intelligence networks, following a Blue Corner Notice issued by Interpol at the request of Indian agencies. Yurchenko is believed to be one of the masterminds behind the massive financial scam. Investigations reveal that he, along with eight other foreign associates, fled India before the scam came to light. Authorities said that all the required documentation has been completed, and an official request for extradition will soon be sent to the Ukrainian government through Interpol. All supporting documents and evidence against the accused have been translated into Ukrainian and will be routed through the concerned Central agencies. The investigation further revealed that Yurchenko operated from the Torres Group's head office in Dadar, frequently visiting its various branches to supervise operations. His arrest is expected to provide critical leads regarding the whereabouts of the remaining foreign accused in the case. Yurchenko reportedly fled India on 6 December 2024, and has been untraceable since. The scam involved fraudulent investments from over 15,000 individuals across Mumbai, Navi Mumbai, Thane, and Mira-Bhayandar, resulting in total losses estimated at ₹142 crore. Preliminary findings indicate that the entire operation was orchestrated by a Ukrainian national, with eight Ukrainian and one Turkish national identified as co-accused. A Blue Corner Notice has already been issued against all nine suspects: Olena Stoian, Viktoria Kovalenko, Mustafa Karakoch, Oleksandr Boravyk, Oleksandr Zhapichenko, Oleksandra Brunkevska, Oleksandra Tredokhyb, Artem Oliferchuk, and Ihor Yurchenko. Investigators suspect that hundreds of crores of rupees siphoned from the fraud were illegally transferred abroad. Prior to the exposure of the scam, some alert investors and citizens had tipped off the police and investigative agencies via email. Efforts are ongoing to track down the remaining absconding accused through Interpol. Police sources suggest that more arrests and legal action are likely in the coming days.

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