Haren
Two nationals from the Ukrainian including a woman, have been identified as key suspects in a multi-crore ponzi scheme that defrauded hundreds of investors in Maharashtra’s Mumbai by promising high returns.
The Economic Offences Wing (EOW) investigating the case against Torres Jewellers is preparing to issue a Look-Out Circular (LOC) for Artem and Olena Stoin, who are suspected to have fled the country. Alongside them, promoters and executives of Torres Jewellers are accused of embezzling over Rs 22 crore.
According to a report by India Today, a case has been registered of criminal conspiracy, cheating, and criminal breach of trust. The FIR includes multiple individuals, including the directors of Platinum Hern Pvt. Ltd. (operator of Torres Jewellers), Sarvesh Ashok Surve, Victoria Kovalenko, CEO Tausif Riaz alias John Carter, General Manager Tania Kasatova, and store in-charge Valentina Kumar.
The Dadar office of the company became the center of protests as investors demanded the return of their principal amounts after the cessation of promised returns.
Police Receive Multiple Complaints
The police have received 1,535 complaints against the company, which allegedly attracted investors by offering high returns on investments in moissanite stones. Platinum Hern Pvt. Ltd. initially built investor trust by delivering 6 per cent weekly returns but halted all payments by December 30, 2024.
The case was brought to light by Pradeep Kumar Mamraj Vaishya, a vegetable vendor from Nariman Point, who reported being defrauded between June 21 and December 30, 2024. He, along with at least seven other investors, has filed complaints accusing the company of breach of trust and fund misappropriation.
Preliminary investigations reveal that the company owner is currently abroad, and authorities are investigating possible links to accomplices and suppliers involved in the scam.
