Hawala Operator's Alleged Role in Multi-Crore Torres Investment Scam Unveiled

A special court has remanded suspected Hawala operator Alpesh Khara to the Enforcement Directorate's custody in relation to the Torres investment scam. Khara is accused of laundering money through cryptocurrencies, linked to Platinum Hern Pvt Ltd, which defrauded investors of Rs 142 crore via Ponzi and MLM schemes.

A special court on Wednesday remanded Alpesh Khara, a suspected Hawala operator, into the custody of the Enforcement Directorate (ED) until April 1. This development is part of an ongoing money-laundering investigation associated with the sprawling Torres investment scam, involving multiple crores.

Khara was previously held by Mumbai's Economic Offences Wing. The ED sought his custody to investigate his alleged direct link to the scam. The allegations against Khara include converting cash, collected from Torres' Dadar showroom, into cryptocurrency, a process central to the case's financial layering.

The scam centers on Platinum Hern Pvt Ltd, accused of duping around 14,000 investors out of Rs 142 crore through Ponzi and multi-level marketing schemes. Despite the defense's argument of Khara's non-involvement, the court granted the custody request, underlining the need to unravel the complex money trails further.

(With inputs from agencies.)