MUMBAI: Shivaji Park police on Tuesday arrested two directors and a senior executive of Platinum Hern Pvt Ltd, the company that runs Torres jewellery chain, for cheating more than 18,000 people from Mumbai, Navi Mumbai, Thane and Mira-Bhayander of crores of rupees through its investment schemes.
Meanwhile, Navghar police in Mira-Bhayander have frozen Rs 9.17 crore maintained by the company in its bank accounts.
Thane police and APMC police in Navi Mumbai on Tuesday registered separate cases, even as Kandivli police recorded the statements of 10 investors and forwarded them to Shivaji Park police station, where an FIR has been registered against five accused under the Maharashtra Protection of Interest of Depositors Act, 1999.
The case has been taken over by the Economic Offenc-es Wing of city police. BJP’s Kirit Somaiya claimed the sc-am could cross Rs 1,000 crore.
The arrested directors, Tania Casatova and Sarvesh Surve, and senior executive Valentine Kumar have been remanded in police custody till Jan 13 by the Dadar metropolitan magistrate’s court.
Torres has five stores at Grant Road, Dadar, Sanpada, Mira Road, and Kalyan, and had plans to open a sixth one in Kandivli. The accused started the Ponzi investment scheme on Feb 24, 2024, and allegedly lured investors by promising them a high return of 10-12% per week, with additional bonuses for cash investments and referrals. Investors were also enticed with promises of Moissanite diamond gifts and entries into lucky draws offering prizes like luxury cars and flats, said Nilesh Waghela (43), a victim from Ambivali village in Kalyan. But in Dec, payments stopped. The scam came to light on Monday, when investors found the stores in Dadar and Sanpada shut without any prior notice. Hundreds of investors protested outside Torres stores; later some of them lodged a complaint at Shivaji Park police station and to file an FIR and demanded return of their principal investment.
In a related development, Kandivli police and APMC police have registered separate FIRs against the protesting investors for damaging property at Torres stores.
