Torres scam: Mumbai police seize cash, valuables worth Rs 24.49 crore

Mumbai, Jan 15 (PTI) The Mumbai police’s Economic Offences Wing, which is probing the Torres investment scam, has so far seized cash and valuables worth Rs 24.49 crore during searches at various places, officials said on Wednesday.

EOW officials found Rs 15.81 crore in various bank accounts linked to those accused of committing the alleged scam, an official said.

During the searches, the agency seized Rs 5.98 crore cash, he said.

So far, 3711 investors have approached the Mumbai police with complaints of being cheated and the fraud amount has risen to Rs 57.56 crore, he said.

According to the complainants, a private firm owning the ‘Torres’ jewellery brand duped them on the promise of attractive returns on investment, he said.

The scam came to light when hundreds of investors gathered at the jewellery brand’s store situated at Torres Vastu Centre building in Dadar (West) early this month after the company stopped paying sums promised to them.

Tazagul Xasatov, a Uzbekistan national, Valentina Ganesh Kumar, a Russian national, and Sarvesh Surve – all senior executives of the firm – are among those arrested in the case. PTI DC NR

Source: PTI