Mumbai Firm Accused of Rs.13.48 Crore Ponzi Scheme; Top Executives Booked as Investors Protest
Mumbai Firm Accused of Rs.13.48 Crore Ponzi Scheme; Top Executives Booked as Investors Protest
The Mumbai Police have registered a case against five senior executives of Platinum Hern Pvt Ltd, a Dadar-based company operating Torres Jewelry, for allegedly orchestrating a Ponzi scheme that defrauded investors of ₹13.48 crore. The scheme reportedly promised a 25% monthly return on investments tied to the purchase of moissanite stones.
#TorresScam
— RajTfanclub (@rajbhakt16) January 7, 2025
एका आठवड्यात ११% रिटर्न्स देतो म्हणत एका टोरेेस नावाच्या रशियन कंपनीत सामान्य माणसाने लाखों रुपये गुंतवले. जवळपास ३००० कोटी हडप करुन कंपनी रातोरात बंद झाली.
दादर, कांदिवली अश्या ६ ठिकाणीं आलिशान ब्रांच. पैश्याच्या मोहापायी घरदार विकून लोकांनी पैसे टाकले. काळजी घ्या. pic.twitter.com/vaVpZSmHl6
The complaint was filed by a 31-year-old vegetable vendor who had invested in the scheme. At least seven investors have alleged losses totaling ₹13.48 crore. The accused, including two directors and three senior officials, reportedly ran the scheme between June and December 2024, offering a weekly return of 6%. However, communication from the company ceased after December 30, 2024, prompting a large group of investors to gather outside the firm’s Dadar office to demand their money back.
1000s of investors duped, lose crores of rupees in Torres/Platinum Hern Pvt Ltd #investment #scam. #Torres, which described itself as 1 of the largest #jewellery houses in #India, was headquartered in #Mumbai's Dadar, having a chain of grand showrooms.#Fraud #Crime #Finance
— Nishit Doshi (@NishitDoshi144) January 7, 2025
Frustrated investors have protested in large numbers outside Torres Jewelry’s office, demanding the return of their investments. The company’s owner is reportedly on the run, exacerbating concerns among those affected. Police have increased security at the company’s office and are conducting an investigation. The accused have been charged under multiple sections of the Indian Penal Code and the Maharashtra Protection of Interest of Depositors (MPID) Act.
