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TMI BlogTorres scam: HC shocked over police lethargy, orders protection for `whistleblower'X X X X Extracts X X X X X X X X Extracts X X X X ..... Torres scam: HC shocked over police lethargy, orders protection for `whistleblower' - PTI News Dated:- 15-1-2025 PTI - News - Torres scam: HC shocked over police lethargy, orders protection for `whistleblower' - - - Dated:- 15-1-2025 - Mumbai, Jan 15 (PTI) The Bombay High Court on Wednesday took Mumbai Police to task for its lethargy in the investigation of the Torres investment scam, and ordered ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... protection for a chartered accountant who claims to be the whistleblower in the case. A division bench of Justices Revati Mohite Dere and Neela Gokhale directed the city police commissioner to provide protection to Abhishek Gupta who claims to have exposed the scam, even as the police told the court that they were still ascertaining if he faced any threat. The court's order came in response to a p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... etition filed by Gupta. The firm that owns Torres jewellery brand is accused of cheating hundreds of investors of crores of rupees through a combination of Ponzi and multi-level marketing (MLM) schemes, promising very high returns but eventually defaulting on payout. The Economic Offences Wing (EOW) of the police has so far arrested three persons in the case including two foreign nationals. Gupta' ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s petition sought police protection, apprehending a threat to his life after the scam came to light. During the hearing, the bench expressed dismay over the manner in which the EOW, a "specialised agency", dragged its feet, giving opportunity to the foreign national accused to flee India. "We are shocked at the manner in which the investigation is progressing. Somewhere, the police are responsible ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . They had so much information," the bench remarked. Gupta, who had audited the accounts of Platinum Hern Pvt Ltd, the parent firm of Torres brand, in his plea claimed that the police were tipped off about the alleged scam in June 2024, months before investors began to lodge complaints, but no action was taken. Additional public prosecutor Prajakta Shinde said the police were awaiting a report on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the threat perception to Gupta. If a person is providing information to the police, he or she should not be made a scapegoat, the judges said. According to the police, eleven accused, most of them foreign nationals, are absconding and Look-Out Circulars have been issued against them at airports. Shinde told the bench that the police have taken steps to recover the amount involved in the scam, and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... so far recovered Rs 25 crore. It was not even one per cent of the entire scam amount, observed the court. The judges also criticized the police for failing to secure crucial evidence such as CCTV footage. "This is a specialized agency. We expect promptness; otherwise, the accused will flee. Obtain CCTV footage from the company's offices, hotels where the accused stayed," the HC ordered. The court ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... also asked the Assistant Commissioner of Police (EOW) to remain present through video conference at the next hearing on January 22. "Because you can't find somebody, don't make someone else a scapegoat. You must ensure prompt and proper investigation," the court said. PTI SP KRK - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TaxTMI - TMITax - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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