Torres Jewellery Ponzi Scheme: A Glittering Scam Unveiled

Torres jewellery brand, under investigation for allegedly operating a Ponzi scheme, lured investors with promises of cars and flats. Hundreds claim they've been defrauded, with estimated losses escalating. The Mumbai police's Economic Offences Wing has taken action, seizing items and arresting suspects to protect consumer interests.

The Torres jewellery brand is under scrutiny for allegedly executing a Ponzi scheme, as the Mumbai police official revealed on Thursday. The scheme attracted investors by promising extravagant rewards, such as cars and flats.

Hundreds of investors have come forward with claims of being defrauded, leading to an ongoing investigation by the Economic Offences Wing (EOW) of Mumbai police. The team visited the brand's Dadar West showroom as part of the probe, uncovering cash and valuables.

Deputy Commissioner of Police Sangramsingh Nishandar assures that efforts are underway to safeguard investors' interests, with a special cell established for them at Shivaji Park police station. As investigations progress, the numbers of impacted investors and the disclosed sum of money involved continue to escalate.

(With inputs from agencies.)