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Torres Jewellery Ponzi Scam: 43 Employees Lost ₹3.23 Crore By Investing In Firm’s Bogus Schemes

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Mumbai: Mumbai Police has claimed that apart from thousands of customers, 43 employees who worked at various showrooms of Torres jewellery lost around Rs 3.23 crore collectively.

Police Files Chargesheet In Connection With The Torres Fraud Case

In seminars held to market products, customers were told that the company was going to set up 50 showrooms across the country while offering expensive gadgets and cars as gifts. The police had last week submitted a chargesheet in connection with the Torres fraud case, claiming that so far investigation has revealed that many of the investors were lured with attractive prizes and gifts.

According to the chargesheet, between July and October 2024, one Dadarbased shop supplied 209 iPhones, 52 iPads, three MacBooks, nine OnePlus phones, and one adapter, collectively worth Rs2.19 crore, to Torres’ Dadar showroom. Another shopkeeper said that between October 2024 and January 2025, he supplied gadgets worth Rs 2.93 crore to the Dadar showroom. These gadgets were given to customers as prize money.

Besides, senior executives of the company portrayed the firm as stable, with plans to set up at least 50 showrooms across the country. With such assurances, even employees became victims of the fraud, investing their hard-earned money in various schemes.

Crime

Mumbai: 5 Booked For Assaulting & Abusing Police During Drunk-Driving Check In Kandivali

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Mumbai: The Samta Nagar police registered a case against five individuals for allegedly physically assaulting and verbally abusing police personnel, as well as obstructing government work.

On September 2 in Kandivali East, a police team on duty was allegedly abused and pushed by relatives of a drunk-driving accused while action was being taken against him. The incident also involved attempts to obstruct government work.

A case has been registered against five people, including three women. The Samta Nagar police arrested two accused, identified as Ajay Ramesh Bamane and Ganesh Bamane, who were later released on notice. The three women—Vidya Sonawane, Vijaya Bhat, and Varsha Bamane—have been named as co-accused and declared wanted in the case.

According to the police, the incident occurred on Tuesday, September 2, at around 12:45 p.m. near the Akurli Road Subway, Big Bazaar, Kandivali. Local police had increased patrolling and blockades during Ganeshotsav to prevent any untoward incidents. That afternoon, a team from Samta Nagar Police Station, along with traffic police, was on blockade duty in the Big Bazaar area when Police Constable Surwale noticed that Ajay Bamane was driving under the influence of alcohol.

He was stopped, and action was initiated against him. At this point, his relatives—Vidya Sonawane, Vijaya Bhat, Varsha Bamane, and Ganesh Bamane—intervened and began arguing with the police. They allegedly gathered unlawfully, abused the police, and attempted to assault them to stop the action against Ajay. They reportedly tried to attack Police Constable Siddharth Kini, Sub-Inspector Garad, and Woman Constable Tandale, even scratching PSI Garad with their nails while obstructing her from performing her duty. The situation created a tense atmosphere in the area.

On receiving information, additional police personnel from Samta Nagar Police Station rushed to the spot. Ajay Bamane and Ganesh Bamane, who were found arguing with and assaulting police officers, were detained for questioning. A case was registered against all five accused under sections related to obstructing government work, abuse, pushing, and assaulting police officers.

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Crime

Mumbai Sessions Court Grants Anticipatory Bail To Thane Resident In ₹10 Crore Gold Investment Fraud Linked To Dabba Trading

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Mumbai: The sessions court has granted anticipatory bail to a 34-year-old Thane resident in connection with a case registered with LT Marg police station linked to dabba trading.

The complaint was lodged by Pranam Mehta, partner in PFIVE Bullions Pvt Ltd, which deals with the buying and selling of gold bars and coins, who alleged that in February 2023 their chartered accountant introduced him to businessmen Ladulal Kanther, his son Pallav, and Shubham Kanther, who operated firms Maxis Bullions and Pallav Gold dealing in gold and silver.

Mehta claimed that between May 2023 and March 2024, he invested 36kg and 376.94 grams of gold, along with Rs 10.51 crore in cash, with the Kanthers’ firms. When the investments were not repaid, he filed the case.

During the investigation, the Kanthers were arrested. Ladulal, while in custody, disclosed that he had used 12kg of gold and Rs 5 crore, allegedly proceeds of the crime, to cover his MCX trading losses. He further claimed to have paid Rs 52 lakh to Sancheti. Based on this statement, the police issued Sancheti a notice to join the probe. Fearing arrest, he approached the court.

Sancheti maintained that Ladulal had approached him in May 2022 for investment and that all their transactions were recorded through banking channels, not cash. He alleged his name was being misused to extort funds. In contrast, the complainant claimed Sancheti was instrumental in diverting Rs 52 lakh to Rajasthan to settle Ladulal’s issue with the Customs Department.

After hearing arguments, the court observed that the only role attributed to Sancheti was receiving Rs52 lakh from Ladulal. Beyond this, there was no evidence connecting him to the alleged fraud. It held that ‘merely on the basis of a co-accused’s statement, without specific allegations, anticipatory bail cannot be denied.’

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Crime

Mumbai Crime: Woman Railway Police Officer Among 4 Arrested In ₹10.3 Lakh Extortion Racket At Bandra Terminus

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CRIME

Mumbai: In a shocking development, the crime branch (railways) has arrested a woman police officer for her alleged involvement in the Rs 10.30 lakh extortion from a garment businessman at Bandra Terminus on Monday.

Mumbai railway police chief, Rakesh Kalasagar, said, “The Bandra railway police station senior inspector Nandkumar Khadkikar and (accused cop) Vijaya Ingavale have been suspended.”

So far, four accused have nabbed, while the police said that a total eight people are involved. Ingavale has been allegedly running the extortion racket for four to five years.

The Government Railway Police (GRP) on Wednesday arrested assistant sub-inspector Vijaya Ingavale, 52, attached to the Bandra Government Railway Police station along with Nilesh Kalsulkar, 45, and Praveen Shukla, 32, who posed as fake cops and extorted the money.

Meanwhile, one Ravi Singh, 25, was detained on Thursday. Ingavale Kalsulkar’s bail plea has been rejected and she along with Shukla have been remanded to police custody till September 10, as per sources.

A police officer said that the arrested accused are well-educated. While Kalsulkar is a mechanical engineer, Shukla holds an MBA in finance and works part-time in the loan business.

A cheating case was registered against Kalsulkar 10 years ago. Along with seven other accused, the woman officer conspired to dupe passengers.

The officer said that Kalsulkar has known Ingavale for four to five years. His role was to scout for wealthy targets at Bandra Terminus. In the case, which exposed the racket, the complainant, Vikas Gupta, 31, was allegedly convinced by his friend to bring cash to exchange it with crypto and purchase electronic goods.

When Gupta arrived at Bandra Terminus, Kalsulkar and Singh, posing as police officers, approached him, while four others stood behind them. They removed money from his bag under the pretext of checking it, said the officer, adding that they later took him to the Bandra police station where Ingavale allegedly threatened him with a raid on his residence and imprisonment.

Activist Samir Zaveri said, “In a short span, one incident after another has exposed the GRP’s involvement in extortion of passengers under the pretext of baggage checking. In the Bandra Terminus case, extortion was carried out by fake cops in nexus with the real police personnel.” This new modus operandi was meant to prevent identification of the police personnel, he added.

Under the guidance of Kalasagar, crime branch senior inspector Vijya Khedkar and police inspector Rohit Sawant exposed the racket. On August 10, three police personnel allegedly extorted Rs30,000 from a jeweller at Mumbai Central. On June 13, railway police allegedly extorted Rs 5,000 from a passenger at the Vasai station.

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