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Mumbai’s Torres Jewellers Accused Of ₹13.48 Crore Fraud; Company Alleges Theft By CEO And CA

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Mumbai: A major financial scam involving Torres Jewellers has come to light, with the Shivaji Park police registering an FIR against the company’s directors and CEO for allegedly defrauding investors of over ₹13.48 crore. Investors gathered outside the company’s office in Dadar, demanding the return of their principal amounts after promised investment returns ceased.

The Shivaji Park Police have registered an FIR under Sections 318(4), 316(5), and 61 of the Bharatiya Nyaya Sanhita (BNS), along with Sections 3 and 4 of the Maharashtra Protection of Interest of Depositors (MPID) Act, 2023. The accused include Platinum Hern Pvt. Ltd., which operates the Torres Jewellers brand, its directors Sarvesh Ashok Surve and Victoria Kovalenko, CEO Taufik Riaz alias John Carter, General Manager Tania Casatova, and Store In-Charge Valentina Kumar. No arrests have been made yet, according to the police, and the Economic Offences Wing (EOW) will take over the investigation.

Timeline of the Fraud

The complainant, Pradeep Kumar Mamraj Vaishya (31), a vegetable vendor residing at Mahatma Phule Nagar, Nariman Point, reported the alleged fraud, which occurred between June 21, 2024, and December 30, 2024.

Platinum Hern Pvt. Ltd. lured investors by promising lucrative returns on investments through the sale of Moissanite stones, offering a weekly return of 6% on invested amounts. Initially, the company delivered returns to gain trust, but all payments, including principal repayments, ceased on December 30, 2024.

At least seven investors, including the complainant, have filed complaints, resulting in the FIR. The accused face charges of breach of trust and misappropriation of funds. Preliminary investigations indicate the company owner is abroad, and authorities are exploring further links, including potential accomplices and the suppliers of fraudulent schemes.

Torres Jewellers’ Counter-Claims

In an unexpected twist, Torres Jewellers released a statement on its official website accusing its CEO, Taufik Riaz, and Chartered Accountant Abhishek Gupta of theft and vandalism. The company claims the duo orchestrated a burglary at one of its jewellery shops.

The website features CCTV footage purportedly showing the two individuals stealing valuables and vandalizing the premises. Accompanying the footage are images of the accused, which the company alleges confirm their involvement in the theft. Torres Jewellers claims this incident is part of a larger conspiracy.

Crime

Maharashtra: Gadchiroli Police Destroy Maoist Monuments, Arrest Naxal Supporter During Anti-Maoist Operations

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Gadchiroli: Police recently destroyed two Maoist-erected monuments and arrested a Naxal supporter actively involved in violent activities against security forces. Officials said both actions were part of ongoing anti-Maoist operations aimed at eliminating fear from local communities.

On September 30, a police team from Poste Katezari, along with SRPF personnel, was conducting a search operation in the Katezari and Marma forest areas of Mauja Katezari. During the operation, they found two Maoist monuments, erected two to three years ago, intended to spread fear and show Maoist presence in the region.

After inspection by the bomb disposal team, both monuments were demolished and destroyed. Police said that, with the cooperation of local citizens, trees were planted at the site as a symbol of peace.

Superintendent of Police, Gadchiroli, Nilotpal, said: “The Gadchiroli police is trying to free citizens from the terror of the Maoists. Such memorials have no place in society, and people are urged not to participate in such illegal constructions.”

In a separate incident on September 29, while security forces were conducting an anti-Maoist operation in the Bhamragad area, they received information about a suspicious person allegedly conducting reconnaissance of security forces.

The man was detained and later identified as Sainu alias Sannu Amlu Mattami (38), a resident of Poyarkothi, Bhamragad. Investigations revealed he was a staunch Naxal supporter involved in violent activities, including an encounter between police and Maoists in the Koparshi-Phulnar jungle area on August 27, 2025.

Mattami was arrested on September 30.

According to officials, since January 2022, Gadchiroli police have arrested a total of 110 Maoists, a result of sustained anti-Maoist operations in the district.

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Maharashtra

I am grateful to Uddhav Thackeray: Chief Minister Devendra Fadnavis

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Mumbai: Maharashtra Chief Minister Devendra Fadnavis targeted Uddhav Thackeray and said that Uddhav Thackeray did not say a single word about development works in the Dussehra rally. I am grateful to him because he saved me Rs 1,000. I had said that Uddhav Thackeray would not talk about development works and that is what happened, that is why I have saved Rs 1,000. Fadnavis said that instead of politicizing the floods in the state, there is a need for assistance. He said that the way the government has helped the flood-affected areas has definitely brought some relief. Along with this, Fadnavis called Rahul Gandhi a liar for targeting the country’s democracy abroad and said that Rahul Gandhi does not believe in democracy, that is why he lies. His grandmother Indira Gandhi had imposed emergency in the country. Now, democracy in the country is in danger.

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Maharashtra

Mumbai Police Commissioner Devin Bharti worshipped weapons on Dussehra Vijayadashmi

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Mumbai: On the occasion of Dussehra, weapons and ammunition were worshipped at Mumbai Police today by Mumbai Police Commissioner Devin Bharti. Devin Bharti was accompanied by Joint Police Commissioner (Administration) Jaikumar, Additional Commissioner Vanita Sahu, DCP (Zone LV) Ragasudha R, DCP (LA-Naigaon) Anand Bhute and other senior officers. Weapons and ammunition were also worshipped at various police stations in Mumbai on Dussehra. In Mumbai city, the police had made strict security arrangements in view of Dussehra, along with which the police had also made arrangements for the immersion of Durga Devi. The Mumbai Police Commissioner has shared the pictures of the weapons worship on his X account after the weapons worship. The weapons worship ceremony was held in Naigaon. After the puja pot, the puja process was completed by placing flowers on the hands.

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