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₹177-Crore Torres Fraud Case: PMLA Court Drops Charges Against Whistleblower CA Abhishek Gupta

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Mumbai: The special PMLA court has refused to prosecute whistleblower Abhishek Gupta, a Chartered Accountant, booked by ED for money laundering in connection with the Torres fraud case.

Observation Made By The Judge

While dropping prosecution against Gupta, the special judge RB Rote, said: “There is no material/evidence to indicate that accused No.10 (Gupta) is actually involved in any process or activity connected with the proceeds of crime. Therefore, considering the limited role assigned against accused No.10, it shows that there are no sufficient grounds for proceeding against accused No.10 for the offence under PMLA.”

“Despite being aware of financial irregularities and non-compliance, he failed to take timely action or report these issues to the relevant authorities. His delay in raising alarms suggests that he knowingly facilitated the management’s illegal business dealings. The accused No.10, the Auditor, appears to have reported the irregularities and non-compliance in his audit report,” the court further said.

It, however, referred to the ruling of the Bombay High Court, where a Statutory Auditor and Chartered Accountant were discharged. The court, however, ordered to proceed against the other 12 accused, namely, M/s Platinum Hern Pvt Ltd (PHPL) – Torres Jewellery, Alpesh Khara, Sagar Paresh Mehta, Oleksandr Zapichenko alias Alex, Olena Stoian, Viktoria Kovalenko, Sarvesh Ashok Surve, Tausif Reyaz alias John Carter, Lallan Jamedar Singh, Tazagul Khasatova alias Tanya, Astrozen Pharma Pvt Ltd, and Prisah Advisory Pvt Ltd.

The Enforcement agency has claimed that, PHPL company lured the investors into a fraudulent investment scheme under the guise of high returns and lucrative rewards. The company enticed the customers by promising exaggerated weekly returns ranging from 2% to 9% on investments in gold, silver, original diamond jewellery, and precious gemstones, particularly targeting those looking to invest in these assets. ED claimed that they offered “Investment Bonuses” of 20% for bringing in new investors, creating a chain-like referral system.

“The sales officers at the showrooms misled the customers by conducting seminars, advertising high returns and offering lucky draws with the chance to win luxury cars and expensive mobile phones, giving an impression of legitimacy. In reality, the company marketed synthetic moissanite stones, which were much cheaper than diamonds, as high-value investments, promising that their value would increase in the future, akin to diamonds,” ED said, claiming that the value of the proceeds of crime as of now is Rs 177.11 crore.

Crime

Massive Drug Bust In Nalasopara: Nigerian National Caught With 255 Grams Of Mephedrone Worth ₹51 Lakh

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Nalasopara: The biggest news right now is the recovery of a large quantity of drugs in Nalasopara, which has created a stir in the area.

The incident falls under the jurisdiction of the Tulinj Police Station, in the Prgati Nagar area of Nalasopara East. According to information received, the Crime Branch Unit 2 team got a tip-off that an unknown person was coming to the area to smuggle a large quantity of drugs.

Following this intelligence, the Crime Branch Unit 2 team laid a trap and apprehended the Nigerian individual on the road. During the search, approximately 255 grams of MD (Mephedrone) drugs were seized from him, with a total value estimated at around ₹51 lakh 10 thousand.

The recovery of such a large amount of drugs in broad daylight, just 25 meters away from the Pragati Nagar Beat police chowki (under Tulinj Police Station), has created a sensation and panic in the locality.

Currently, the Crime Branch Unit 3 team has arrested the Nigerian national from the Pragati Nagar area in connection with drug trafficking, carrying out a major operation.

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Crime

Sexual assault case: Court reserves order on Cong MLA Mamkootathil’s anticipatory bail plea

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Thiruvananthapuram, Dec 3: A court on Wednesday reserved order on the anticipatory bail plea of Congress MLA Rahul Mamkootathil, accused of raping and coercing a woman into an unsafe abortion.

After a 90-minute closed-door hearing, the Court said that since a maze of documents has to be perused, the orders will come accordingly.

Before the start of the hearing, the court cleared the room, reflecting the sensitivity of the case that triggered a major political storm in the state.

Mamkootathil’s counsel argued that the complaint was “motivated and aimed at destroying his political career”, alleging a conspiracy involving the CPI(M) and BJP.

He maintained that the relationship had been consensual and claimed the pregnancy was not related to him.

The defence further argued that the woman herself opted for an abortion. It was also pointed out that this case is being used to divert public attention from the Sabarimala gold smuggling controversy.

The court, after listening to both sides, reserved its order and directed the prosecution to file one more supporting document.

Meanwhile, the Special Investigation Team has submitted a detailed report to the court, reportedly containing grave findings.

According to the report, the woman was raped multiple times and was threatened into undergoing an abortion.

Investigators say they have evidence to support allegations of sexual assault and coercion.

The prosecution argued strongly against granting bail, highlighting Mamkootathil’s influence as a public representative.

If released, they warned, he could intimidate the complainant or destroy crucial evidence.

For Mamkootathil, the case has become politically existential.

A court order against him could result in expulsion from his party, for which a majority in the party have gone on record tasking the party’s top brass to ensure that he is expelled.

In August, when this case first surfaced, the party stripped him of the post of Youth Congress president and suspended him from the party.

Even as the case tightens around him, the police have yet to trace the legislator, who, they say, is absconding in Bengaluru, seven days after the complaint was filed.

In her confidential deposition before the Neyyattinkara JFCM court, the woman detailed multiple instances of rape, twice in a Thiruvananthapuram flat and later in Palakkad.

She alleged that Rahul recorded videos of the assaults, used them to threaten her, and repeatedly intimidated her over the phone.

According to the prosecution, Mamkootathil’s friend Joby Joseph delivered the abortion pill and has been named a co-accused.

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Crime

Delhi Police bust interstate illicit liquor smuggling network, arrest three

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New Delhi, Dec 3: Delhi Police on Wednesday arrested three interstate smugglers and recovered 40 cartons containing 2,000 quarters of illegal liquor.

According to a statement issued by Dwarka Police, the Special Staff team of Dwarka District apprehended the accused, Sunny, son of Mool Chand, aged 39, from Najafgarh, Delhi; Riti alias Ritik, son of Munshi, aged 19, from Jai Vihar, Najafgarh, Delhi; and Ajit, son of Omprakash, aged 30, from Village Kablana, District Jhajjar, Haryana

The seized liquor was meant for sale in Haryana. Police also confiscated a TVS Jupiter scooter with a temporary registration number (DL12A0XXXX), used in the smuggling operation.

Acting on the directions of DCP Dwarka District, Ankit Singh, the Special Staff team was tasked with keeping surveillance on individuals involved in supplying illegal liquor from Haryana to Dwarka and the surrounding areas. The team monitored interstate borders and deployed local sources to collect actionable intelligence.

On November 15, Head Constable Vijender Kumar received specific information about a TVS Jupiter scooter being used for liquor smuggling. Based on this input, a raiding team led by Inspector Vishvendra and comprising Sub Inspector Vinod Kumar, Head Constable Vijender Silayach, HC Jagdish Chand, HC Ajay, Constable Pradeep and HC Jai Bhagwan was formed under the supervision of ACP Operations Dwarka, Ram Avtar.

The team conducted a raid in Dichaon Gaon, Kumharo Wali Gali, BHD Nagar, where Sunny was spotted arriving on the scooter carrying a black bag. Upon checking the bag, police found illicit liquor quarters.

Further interrogation revealed that the liquor was loaded from a nearby house. During a search of the premises, police found two individuals filling illicit liquor bottles into bags. A total of 38 additional cartons were recovered.

The two men were identified as Riti alias Ritik and Ajit, who were working for Sunny.

A case under FIR No. 373/25, dated November 16, under Sections 33/38/58(D) of the Delhi Excise Act, was registered at BHD Nagar Police Station.

During interrogation, the accused admitted that they were supplying illegal liquor from Haryana to Delhi for quick financial gain.

Further investigation is underway.

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