Mumbai’s Torres Jewellery Scam: ₹1,000 Crore Fraud Involving Foreign Nationals

 

The Torres Jewellery Scam, operated by Platinum Hern Private Limited, has defrauded over ₹1,000 crore from more than 1.25 lakh investors in Mumbai and Navi Mumbai. The company lured investors with promises of high returns without regulatory approvals. Among those arrested are Russian citizen Valentina Ganesh Kumar, Uzbek national Tania Karaxanovna, and Sarveh Ashok Surve. Authorities are also searching for suspects Victoria Covalenko and CEO Taufiq Riyaz alias John Carter. The Economic Offences Wing is leading the investigation into this multi-crore Ponzi scheme.

 

Source: The Indian Express, The Print