11% weekly returns? Here’s how Mumbai’s Torres Jewellers duped investors in ₹13.48 crore fraud
1 day, 18 hours ago

11% weekly returns? Here’s how Mumbai’s Torres Jewellers duped investors in ₹13.48 crore fraud

Live Mint  

Mumbai Fraud: A major financial scam has emerged in Mumbai involving Torres Jewellers, which has allegedly defrauded investors of over ₹13.48 crore. Torres Jewellers, operating under Platinum Haren Private Limited, launched investment schemes in February 2024 that promised enticing returns, including a 6 per cent weekly payout on investments in moissanite stones. Torres Jewellers promised high returns on gold, silver, and moissanite purchases – 48 per cent, 96 per cent, and 520 per cent annually, respectively, paid weekly. The company reportedly encouraged investors to focus on moissanite, offering the highest returns – between 8 per cent and 11 per cent weekly.

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Mumbai fraud: Investors gather outside Torres Jewellery office in Dadar over unpaid returns; company blames CEO
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2 days, 2 hours ago

Mumbai fraud: Investors gather outside Torres Jewellery office in Dadar over unpaid returns; company blames CEO

Live Mint  

A large crowd of investors gathered outside the Torres Jewellery office in Dadar, demanding refunds for the promised returns from the company’s schemes. However, it failed to disburse instalments in the last two weeks, forcing investors to gather outside the Torres office in Dadar. Many investors were quoted saying, “We don't need interest, just the money back.” Torres Jewellery has …

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