Torres case: Court allows ED to question hawala operator in jail
3 weeks ago

Torres case: Court allows ED to question hawala operator in jail

Hindustan Times  

MUMBAI: A special PMLA court on Friday allowed the Enforcement Directorate to question Lalan Singh, the hawala operator arrested in connection with the Torres jewellery fraud in which thousands of investors from the Mumbai Metropolitan Region lost crores of rupees. The court directed the jail superintendent to allow ED’s assistant director Abhay Kumar, and enforcement officers GBV Satyanarayana, Shubham Pensia and Ankur Tripathi to record Singh’s statement under sections 50 and 50 of the PML Act, 2002. Platinum Hern Pvt Ltd, the holding company of Torres jewellery brand, used this money to set up a chain of six showrooms in and around Mumbai to operate the fraudulent business. Before Singh, the ED had questioned Tausif Riyaz, the chief executive officer of Platinum Hern, Alpesh Khara, a hawala operator, and Sarvesh Surve, Tania Xsatova and Valentina Kumar, who allegedly held top-level positions in the store.

India Mumbai Singh Torres Hawala Operator Platinum Hern  case  allows  torres  india  singh  investors  hern  jewellery  mumbai  hawala  jail  ed  question  operator  money  platinum  court

History of this topic

Torres fraud: Charge sheet names 8 accused, 11 wanted accused
1 week, 5 days ago

Torres fraud: Charge sheet names 8 accused, 11 wanted accused

Hindustan Times  

MUMBAI: The Economic Offences Wing of the Mumbai Police on Monday filed a 27,147-page charge sheet in the multi-crore Torres Jewellery fraud case. Torres fraud: Charge sheet names 8 accused, 11 wanted accused “We have filed the charge sheet in 69 days. We have also named the company’s general manager Tania alias Tazagul Xastova; a Russian-born employee Valentina Ganesh Kumar; …

PMLA court issues production warrant against hawala operator
4 weeks ago

PMLA court issues production warrant against hawala operator

Hindustan Times  

MUMBAI: A special PMLA court has issued a production warrant against Alpesh Khara, a hawala operator from Charni Road, arrested in connection with the alleged fraud Ponzi scheme run through Torres Jewellery stores, in which thousands of investors were duped of crores of rupees. The court order came on an application filed by the ED, seeking production of Khara, who …

Torres fraud: Court allows ED to quiz four jailed accused
1 month ago

Torres fraud: Court allows ED to quiz four jailed accused

Hindustan Times  

MUMBAI: A special PMLA court on Tuesday allowed the Enforcement Directorate to question four prime accused in the Torres Jewellery fraud lodged in two jails in the city. The four arrested accused, in judicial custody at the Byculla and Arthur Road jails, are Tausif Riyaz, Chief Executive Officer of Platinum Hern, the holding company of Torres Jewellery; Tazagul Xasatova; Valentina …

Torres scam: Special court sends two accused in judicial custody
1 month, 3 weeks ago

Torres scam: Special court sends two accused in judicial custody

The Hindu  

A Mumbai Sessions Court on Monday sent two accused, arrested in the multi-crore Torres investment fraud, to judicial custody. Police had said that Mr. Ataian’s name had cropped up after the arrest of Mr. Riyaz who gave statement that the actor had introduced Mr. Riyaz to Ukrainians who are still absconding in the case. Appearing for the accused, advocates Vivek …

Mumbai police arrest Torres CEO in multi-crore investment fraud case
2 months ago

Mumbai police arrest Torres CEO in multi-crore investment fraud case

The Hindu  

The Economic Offences Wing of Mumbai Police, which is investigating the multi-crore Torres investment fraud, has arrested the company's Chief Executive Officer Tausif Riyaz from Lonavala, officials said. Riyaz, also known as John Carter, had been absconding since a financial fraud case was registered at the Shivaji Park Police Station. According to officials, more than 3,700 investors have so far …

Mumbai jewellery brand CEO arrested in multi-crore Torres ponzi scheme
2 months ago

Mumbai jewellery brand CEO arrested in multi-crore Torres ponzi scheme

India Today  

The Mumbai Police's Economic Offences Wing has arrested Tausif Riyaz, the CEO of Torres Jewellery, in connection with over a 57 crore investment fraud case. Riyaz, also known as John Carter, who had been absconding since the case was registered at Shivaji Park Police Station, was arrested in Lonavala on Monday based on specific intelligence. The fraud surfaced when hundreds …

What is the ₹1,000 crore Torres Ponzi scheme which scammed 3,700? Details here
2 months ago

What is the ₹1,000 crore Torres Ponzi scheme which scammed 3,700? Details here

Hindustan Times  

Tausif Riyaz, the CEO of Platinum Hern, the company behind the controversial Torres Jewellery brand, was arrested by Mumbai Police’s Economic Offences Wing on Sunday in connection with a multi-crore Torres Ponzi scam. The arrest comes amid an ongoing investigation into Torres Jewellery’s fraudulent investment scheme, which has left over 3,700 investors with substantial financial losses. The investigation The Torres …

Torres Ponzi scam in Mumbai: Platinum Hern CEO Tausif Riyaz arrested from Lonavala hotel
2 months ago

Torres Ponzi scam in Mumbai: Platinum Hern CEO Tausif Riyaz arrested from Lonavala hotel

Live Mint  

Tausif Riyaz, CEO of Platinum Hern, was arrested from a Lonavala hotel on Sunday, January 26, by Mumbai Police's Economic Offences Wing in connection with the multi-crore Torres Ponzi scam. Fifth accused to be apprehended in the Torres Ponzi scam case, Taurif Riyaz was produced before a court in Mumbai which sent him to the police custody until February 3. …

Multi-crore Torres Jewellery scam: ED freezes ₹21.75 crore, seizes documents, digital evidence
2 months ago

Multi-crore Torres Jewellery scam: ED freezes ₹21.75 crore, seizes documents, digital evidence

Hindustan Times  

MUMBAI: The Enforcement Directorate, which is investigating the multi-crore Torres Jewellery scam, conducted searches at 13 locations across Mumbai and Jaipur, resulting in the seizure of several documents, digital evidence, and the freezing of bank accounts totaling ₹21.75 crore. The action was taken under the provisions of the Prevention of Money Laundering Act, 2002, in connection with fraudulent investment schemes …

Torres ponzi case: Enforcement Directorate searches 10-12 locations in Mumbai, Jaipur
Trending News
2 months, 1 week ago

Torres ponzi case: Enforcement Directorate searches 10-12 locations in Mumbai, Jaipur

The Hindu  

“The Enforcement Directorate on Thursday conducted searches in the Torres investment “fraud” linked money-laundering case where a number of investors have been allegedly duped,” officials said. The federal agency had some time back filed a criminal complaint under the Prevention of Money Laundering Act taking cognisance of a Mumbai Police Economic Offences Wing FIR to initiate investigation. The jewellery company …

Mumbai: ED searches in Torres Ponzi case linked money laundering case
Trending News
2 months, 1 week ago

Mumbai: ED searches in Torres Ponzi case linked money laundering case

Hindustan Times  

Mumbai, The Enforcement Directorate on Thursday conducted searches in the Torres investment "fraud" linked money laundering case where a number of investors have been allegedly duped, officials said. Mumbai: ED searches in Torres Ponzi case linked money laundering case About 10-12 locations in Mumbai and Jaipur in Rajasthan are being raided, they said. The federal agency had some time back …

EOW Mumbai will probe all Torres fraud cases: State to HC
2 months, 1 week ago

EOW Mumbai will probe all Torres fraud cases: State to HC

Hindustan Times  

MUMBAI: The state government on Wednesday informed the Bombay high court that all four first information reports registered in connection with the alleged fraud perpetrated through Torres Jewellery stores will be transferred to the Economic Offences Wing of Mumbai police. EOW Mumbai will probe all Torres fraud cases: State to HC After both agreed to the suggestion, the court said, …

Bombay HC raps police for lax investigation in Torres jewellery scam
2 months, 2 weeks ago

Bombay HC raps police for lax investigation in Torres jewellery scam

Hindustan Times  

MUMBAI: The Bombay high court on Wednesday pulled up the Economic Offences Wing of Mumbai police for being unable to trace the Ukrainian nationals who are among the prime accused in the Torres jewellery scam despite taking charge of the case more than a week ago. According to the First Information Report in the case, the Torres jewellery chain operated …

ED registers money laundering case in Torres Ponzi case
2 months, 2 weeks ago

ED registers money laundering case in Torres Ponzi case

The Hindu  

The Enforcement Directorate has registered a money laundering case to probe the Torres investment "fraud" of about ₹38 crore where a number of investors have been allegedly duped, officials said on Tuesday. The federal agency has taken cognisance of a Mumbai Police FIR to book a case under the criminal sections of the Prevention of Money Laundering Act, the officials …

Mumbai: ED registers money laundering case in Torres Ponzi case
2 months, 2 weeks ago

Mumbai: ED registers money laundering case in Torres Ponzi case

Hindustan Times  

Mumbai, The Enforcement Directorate has registered a money laundering case to probe the Torres investment "fraud" of about ₹38 crore where a number of investors have been allegedly duped, officials said on Tuesday. Mumbai: ED registers money laundering case in Torres Ponzi case The federal agency has taken cognisance of a Mumbai Police FIR to book a case under the …

Mumbai’s Torres jewellery scam has Ukrainian ties: What we know about Ponzi scheme and crores of investment
2 months, 2 weeks ago

Mumbai’s Torres jewellery scam has Ukrainian ties: What we know about Ponzi scheme and crores of investment

Live Mint  

Investigators probing an investment scam linked to a Torres jewellery store in Dadar, Maharashtra, found that Ukraine nationals were among the key accused in the case. Officials told news agency PTI that more and more investors are coming forward to lodge a complaint According to NDTV, six stores of the Torres jewellery chain closed last week after crores of investments …

Multi-crore Torres investment scam: 1,535 complaints received by Mumbai police so far
2 months, 2 weeks ago

Multi-crore Torres investment scam: 1,535 complaints received by Mumbai police so far

Hindustan Times  

MUMBAI: The Economic Offences Wing of the Mumbai Police, which has taken over the investigation into the multi-crore investment scam involving the Torres jewellery firm, said they received complaints from 1,535 investors. Multi-crore Torres investment scam: 1,535 complaints received by Mumbai police so far During search operations at the chain’s main store in Dadar on Saturday, authorities seized cash, gold, …

Multi-crore Torres Ponzi scam: Police waiting for threat perception report in whistle blower’s plea for protection
2 months, 2 weeks ago

Multi-crore Torres Ponzi scam: Police waiting for threat perception report in whistle blower’s plea for protection

Hindustan Times  

MUMBAI: The state government on Friday informed the Bombay high court that the additional commissioner of police was waiting for a threat perception report before responding to the application for police protection filed by Abhishek Gupta, a chartered accountant, who claims to be the whistle-blower in the Torres Jewellery fraud. The jewellery store chain defrauded more than 125,000 investors from …

Torres whistle-blower approaches HC, seeks police protection
2 months, 2 weeks ago

Torres whistle-blower approaches HC, seeks police protection

Hindustan Times  

MUMBAI: Chartered accountant Abhishek Gupta, who claims to be the whistle-blower in the multi-crore Torres Jewellery fraud, has approached the Bombay High Court seeking police protection, fearing for his life. Chartered accountant Abhishek Gupta, who claims to be the whistle-blower in the multi-crore Torres Jewellery fraud, has approached the Bombay High Court seeking police protection The petition, filed through advocate …

Mumbai Torres Jewellery Scam: All you need to know about massive multi-crore fraud involving Russian citizen
2 months, 3 weeks ago

Mumbai Torres Jewellery Scam: All you need to know about massive multi-crore fraud involving Russian citizen

Live Mint  

Mumbai fraud: Jewellery chain operator Torres Jewellers allegedly defrauded nearly 1.25 lakh investors of multi-crore value through a Ponzi scheme after promising a high return. Mint reported earlier that the company offered a 6 per cent weekly payout on investments in moissanite stones. The Free Press Journal⁠⁠⁠⁠⁠⁠ reported that the company also offered a pendant with a moissanite stone worth …

Director, 2 foreigners linked to jewellery firm at centre of ₹13.48-cr scam held in Mumbai
2 months, 3 weeks ago

Director, 2 foreigners linked to jewellery firm at centre of ₹13.48-cr scam held in Mumbai

Hindustan Times  

Mumbai, Three top executives of a private jewellery firm two of them foreign nationals accused of duping investors of ₹13.48 crore in Mumbai by promising them hefty returns, were arrested on Tuesday evening, police said. Those arrested were identified as Sarveh Ashok Surve, a resident Umerkhandi in South Mumbai, Uzbek national Tania alias Tazagul Karaxanovna Xasatova and Russian citizen Valentina …

Mumbai fraud: Investors gather outside Torres Jewellery office in Dadar over unpaid returns; company blames CEO
Trending News
2 months, 3 weeks 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 …

Discover Related