Investor Betrayal: Directors of Platinum Hern Booked in 13.48 Cr Scam

Directors of Platinum Hern Private Limited are accused of duping investors of Rs 13.48 crore, promising high returns on deposits. The scam came to light when investors, receiving no returns since December, discovered multiple branch closures in Mumbai. Police have registered a case under relevant laws.

In a scandalous development, directors of Platinum Hern Private Limited have been booked for allegedly deceiving investors out of Rs 13.48 crore, police in Mumbai reported on Monday.

The accused, including director Sarvesh Ashok Surve and others, enticed investors with promises of lucrative returns, operating under the 'Torres' brand. The scheme crumbled as branches across Mumbai shut down, triggering investor unrest.

One complainant, hoping for weekly returns on his investment in moissanite, realized the fraud in December. Complaints have been lodged under Bharatiya Nyaya Sanhita and the MPID Act, as the investigation continues.

(With inputs from agencies.)