Wed Feb 19 03:28:56 UTC 2025: ## Mumbai Police Investigate International Reach of Torres Investment Scam

**Mumbai, February 19, 2025** – The Mumbai police’s Economic Offences Wing (EOW) is investigating the international reach of the Torres investment scam, uncovering evidence suggesting the wanted accused have launched similar schemes in Bulgaria. The EOW has already arrested six individuals in connection with the scam, which defrauded 12,783 investors of ₹130 crore (approximately $15.7 million USD). Nine other suspects remain at large, eight from Ukraine and one from Turkey.

Authorities are currently verifying information regarding the Bulgarian operations, which are reportedly under a different company name. Upon verification, the findings will be shared with Bulgarian law enforcement. The EOW has already recovered assets worth ₹35 crore (approximately $4.2 million USD), including cash, and is seeking court approval to auction seized company property, including cars, furniture, and electrical equipment. This auction, if successful, could return approximately ₹40 crore (approximately $4.8 million USD) to the defrauded investors.

Platinum Hern Pvt Ltd, the owner of the Torres jewellery brand, is accused of employing Ponzi and multi-level marketing schemes to lure investors with promises of high returns.

Read More