Torres Scam Case: The prime suspect in the Torres scam in Maharashtra and the former CEO of the company, Tausif Reyaz, has now described himself as a "whistleblower". He also claimed that he alerted the agencies about the scam on January 4 when he came to know about it and also submitted evidence.
Reyaz also said that another suspect arrested in the case had written to the agencies about the same. The Mumbai Police has so far arrested three suspects in this case.
The Economic Offences Wing is investigating the Rs 1,000-crore scam. According to an NDTV report, Tausif prepared an 182-page 'whistleblower report', claiming that the people involved in the scam are the same who were behind the B2B jewellery scam in Ukraine and Russia in 2019. The Economic Offences Wing is investigating the claims now. Tausif reportedly shared the report with several agencies.
The Torres Ponzi scam is a Rs 1,000-crore fraud that primarily targeted the low-income group in Mumbai. Launched in early 2024 by Torres Jewellery, a company operating six stores in Mumbai, the scheme promised investors extraordinary returns of up to 300% on their investments in imitation jewellery, reported The Indian Express. The lure of high payouts drew nearly 1.25 lakh investors.
The operation involved elaborate marketing strategies, including seminars that presented the investment opportunities as legitimate and backed by official documentation. However, as the scheme progressed, Torres...
A woman has been accused of honeytrapping and extorting several top Maharashtra officers by luring them into compromising situations and filing false rape complaints. Investigations reveal that she...