Rs 142 cr Torres fraud case: EOW files 27,147-page chargesheet against 8 accused

Mumbai, Mar 17 (PTI) The Economic Offences Wing of Mumbai police on Monday filed a 27,147-page chargesheet against eight accused in the Torres jewellery fraud case, in which over 14,000 investors have been cheated of Rs 142 crore, an official said.

The EOW's chargesheet against M/s Platinum Hern Private Limited, which owns the Torres brand, as well as Tania @ Tazagul Xastova, Valentina Ganesh Kumar, Sarvesh Surve, Alpesh Khara, Tausif Riyaz, Armen Atian and Lallan Singh was submitted in the special MPID court here, he said.

As per police, a total of 14,157 persons were lured into investing in various schemes floated under the Torres brand with promises of high returns, resulting in them getting duped to the tune of Rs 142.58 crore.

The accused have been charged under Bharatiya Nyaya Sanhita, Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act (also called the MPID Act), and Banning of Unregulated Deposit Schemes (BUDS) Act, he said.

Several of these investors had mobbed various showrooms of the company after realising they had been cheated and those behind the venture did not intend to keep the promises of high returns. PTI ZA BNM

Source: PTI