Torres scam: Accused launched investment schemes in Bulgaria, verification on, say police
The Mumbai police's EOW, which is probing Torres investment scam, has received information that the wanted accused in the case have launched similar investment schemes in Bulgaria, and its verification is on, officials said.
Police have so far arrested six persons in the Torres investment fraud case, while nine others are wanted - eight from Ukraine and one from Turkiye.
While investigating the scam, it came to light that 12,783 investors were duped of Rs 130 crore by the accused persons.
The Economic Offences Wing (EOW) personnel are now trying to verify the information about the investment schemes launched by the wanted accused in Bulgaria under a different company name, an official said on Tuesday.
“Once the information is verified, it will be shared with the law enforcement agencies in Bulgaria through an official channel,” he said.
The EOW has recovered property valued at Rs 35 crore, which also includes cash, in connection with the Torres investment scam.
The probe agency has also sought permission from court to conduct an auction of cars, furniture, electrical equipment used by the company, the official said.
“If these things go well, then around Rs 40 crore of the investors can be returned,” he said.
Platinum Hern Pvt Ltd, owner of Torres jewellery brand, is accused of cheating investors of crores of rupees through a combination of Ponzi and multi-level marketing schemes. The firm duped them by promising attractive returns on investment.
