States » WestPosted at: Jan 16 2025 12:28AM


HC pulls up Mumbai police over laxity in Torres Ponzi case probe

Mumbai, Jan 15 (UNI) The Bombay High Court on Wednesday came down heavily on Mumbai police, questioning the laxity in the investigation into the alleged Torres fraud and ordered immediate interim police protection to the chartered accountant who has claimed to be a whistleblower in the case.
A Division bench of Justices Revati Mohite-Dere and Neela K Gokhale orally questioned the Mumbai police’s Economic Offences Wing (EOW), which is probing the Torres ‘scam’, over its laxity in finding whether the absconding Ukrainian nationals, accused in the case, have left the country. The court asked it to “act promptly” and seek information from immigration authorities at the earliest to trace the accused persons concerned.
The Torres brand, run by Platinum Hern Pvt Ltd, allegedly floated multiple schemes offering weekly interests as also around 500 percent annual interest on investments, and allegedly lured investors with incentives and expensive gifts. The FIR registered on January 6 claimed that more than 1.25 lakh individuals invested money and the fraud amount can go up to Rs 1,000 crore.
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