Tue Jan 07 11:55:35 UTC 2025: ## Torres Jewellers Directors Accused of ₹13.48 Crore Investment Scam

**Mumbai, January [Date]:** A major financial scam has rocked Mumbai, with the Shivaji Park police filing a First Information Report (FIR) against the directors and CEO of Torres Jewellers, accusing them of defrauding investors of over ₹13.48 crore. The alleged fraud involved promising lucrative returns on investments in Moissanite stones, with a weekly return of 6% initially offered.

Investors, initially receiving payments to build trust, were left empty-handed after all payments ceased on December 30, 2024. Angry crowds gathered outside the company’s Dadar office demanding the return of their principal investments, prompting police to deploy security.

The FIR, filed based on complaints from at least seven investors, charges Platinum Hern Pvt. Ltd. (the company operating Torres Jewellers), its directors Sarvesh Ashok Surve and Victoria Kovalenko, CEO Taufik Riaz (alias John Carter), General Manager Tania Casatova, and Store In-Charge Valentina Kumar under sections of the Bharatiya Nyaya Sanhita (BNS) and the Maharashtra Protection of Interest of Depositors (MPID) Act, 2023. The accused are facing charges of breach of trust and misappropriation of funds.

While no arrests have been made yet, the Economic Offences Wing (EOW) will be taking over the investigation. Police reports suggest the company owner is currently abroad, and investigations are underway to uncover further links and potential accomplices.

In a surprising development, Torres Jewellers has issued a statement on its website, accusing its CEO, Taufik Riaz, and a chartered accountant, Abhishek Gupta, of orchestrating a theft and vandalism at one of their jewellery shops. The company has released CCTV footage and images as evidence, claiming this incident is part of a larger conspiracy. The veracity of these counter-claims remains to be investigated. The case is expected to be a major focus for law enforcement in the coming weeks.

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