The Torres Ponzi scheme defrauded more than 15,000 investors, draining Rs 177 crore through false promises and clever manipulation. Now, CA Abhishek Gupta, the statutory auditor of Platinum Hern Pvt Ltd, is under intense scrutiny.
The Enforcement Directorate (ED), investigating under the Prevention of Money Laundering Act, has named Gupta as an accused. According to the agency, Gupta failed to raise red flags during audits and only sent an email complaint on January 2, 2025, long after knowing the scale of the fraud. ED argues this delay allowed the scam to thrive.
In contrast, the Economic Offences Wing (EOW) of Mumbai Police views Gupta as a whistleblower. He claims he warned the management internally, then contacted authorities like the Customs Department, the Mumbai Police (EOW), and even an opposition leader in December 2024. His plea for protection was heard by the Bombay High Court, and the EOW chose to list him as a witness, not an accused, in their chargesheet.
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Escaped Masterminds, Angry Investors, and Legal Confusion
Before the fraud fully came to light, the Ukrainian masterminds fled India. They sent deceptive messages, blaming Gupta and CEO Tausif Reyaz for the scheme. Despite this, Gupta regularly appeared before police and extended full cooperation.
Still, suspicions remain. Investor Geeta Gupta, representing a core victim group, suspects his deeper involvement. Gupta’s...
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