Large crowds of investors gathered outside Torres Jewellery offices in Dadar, Kalyan, and Mira Road, demanding refunds of their principal amounts.
Torres Jewellery, operating under Platinum Hern Pvt. Ltd., has been accused of defrauding investors of approximately ₹13.48 crore through deceptive investment schemes.
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The company attracted investors by promising weekly returns of 6% on investments in Moissanite stones. Initially, returns were paid to build trust, but all payments ceased on December 30, 2024.
In response, large crowds of investors gathered outside Torres Jewellery offices in Dadar, Kalyan, and Mira Road, demanding refunds of their principal amounts.
The Mumbai police have registered an FIR against the company’s directors and CEO under various sections of the Bharatiya Nyaya Sanhita (BNS) and the Maharashtra Protection of Interest of Depositors (MPID) Act, 2023.
The accused include directors Sarvesh Ashok Surve and Victoria Kovalenko, CEO Taufiq Riyaz alias John Carter, General Manager Tania Cosatova, and Store In-Charge Valentina Kumar.
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No arrests have been made yet, and the Economic Offences Wing (EOW) is set to take over the investigation.
In a twist, Torres Jewellery has accused its CEO, Taufiq Riyaz, and Chartered Accountant Abhishek Gupta of theft and vandalism, alleging they orchestrated a burglary at one of its jewellery shops. The company released CCTV footage purportedly showing the two individuals stealing valuables and vandalizing the premises.
As the investigation unfolds, investors are urged to remain cautious and report any further fraudulent activities to the authorities.