Mumbai’s Torres Jewellers: A Shocking Fraud Case Unfolds
Mumbai is currently reeling from a major financial scandal involving Torres Jewellers, which is accused of defrauding investors of over ₹13.48 crore. The situation escalated when a vegetable vendor from Nariman Point filed a complaint at the Shivaji Park police station, revealing shocking details about the company’s abrupt closure.
Investors in Panic
In the aftermath of the complaint, a wave of anxious investors from the Mira-Bhayander area rushed to Torres Jewellers’ office, only to find their shops closed. This sudden shutdown left many facing substantial losses, as they had invested in schemes that promised extraordinary returns.
The Alluring Investment Schemes
Torres Jewellers, operating under Platinum Haren Private Limited, launched its investment schemes in February 2024, enticing investors with promises of high returns. The schemes offered a weekly payout of up to 6% on investments in moissanite stones, along with annual returns of 48%, 96%, and a staggering 520% on gold, silver, and moissanite respectively.
Additionally, investors were lured in with promotional offers, such as a ₹10,000 discount on a pendant for every ₹1 lakh invested. However, just two weeks ago, payouts ceased entirely, sparking panic among investors demanding immediate refunds.
How the Scheme Unraveled
Initially, the schemes gained popularity, attracting thousands of hopeful investors who believed they were making wise financial choices. Nonetheless, after December 30, 2024, all payments stopped, and communication became scarce. The primary complainant, Pradeep Kumar Mamraj Vaishya, alleged the fraudulent activity occurred between June 21, 2024, and December 30, 2024.
Counter-Claims and Aftermath
In a twist, Torres Jewellers has accused its CEO and staff of orchestrating a burglary at one of its outlets, claiming to possess CCTV footage of the incident. As the investigation continues, investors remain hopeful for a resolution.
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