Mumbai: The Mumbai Police’s Economic Offences Wing (EOW) conducted raids at six locations as part of its investigation into the multi-crore fraud involving Torres Company. The raids targeted the company’s offices in Dadar, Lower Parel, and Opera House, along with the residences of three accused individuals in Colaba, Umerkhadi (Dongri), and Dombivli.

During the operation, the EOW seized ₹3 crore in cash from the company’s offices and the residences of the accused. The cash was counted using two specialized machines. Several crucial documents were also recovered. Confirming the action, a senior EOW official identified the arrested individuals as Tania Casatova (Uzbekistan) from Colaba, Valentina Ganesh Kumar (Russia) from Dombivli, and Sarvesh Surve from Umerkhadi.

According to EOW sources, absconding accused Mohammed Tausif Riaz, alias John Carter, has submitted a 182-page report. The report alleges that the same individuals behind the Torres fraud were also responsible for the 2019 B2B jewelry scam in Ukraine and Russia. This report, shared with other agencies, is currently under scrutiny.

The investigation revealed that foreign suspects, including Valentina Kumar, Tania Casatova, and Victoria Kovalenko, used fake identification documents to purchase Indian SIM cards, reportedly paying over ₹12,000 for each. The SIM cards were allegedly procured from Nepal. Two of these suspects have been arrested.

The EOW suspects that Torres Company operated a Ponzi scheme under the guise of a jewelry business. Evidence of tax evasion and money laundering has emerged. Arrested suspect Sarvesh Surve claimed he was a director and shareholder but denied involvement in the company’s operations. This claim is under investigation.

Fraud Scope and Online Activities:

The EOW is also examining Torres Company’s Instagram account, where misleading posts and videos continue to lure victims. The Cyber Cell is aiding in identifying the locations and individuals responsible for these activities. Three bank accounts linked to Torres Company have been frozen, with further efforts underway to seize additional assets.

Official estimates currently place the fraud at ₹23 crore. However, authorities suspect it could exceed ₹1,000 crore, given the increasing number of complaints.

Complaints and Seizures

DCP Sangramsingh Nishandar (EOW) confirmed that more than 350 complaint forms have been received so far. “Cash exceeding ₹3 crore, silver, stones, investment papers, and other valuables have been seized. Over 15 luxury cars were delivered to customers, with five more bookings still pending,” he stated, emphasizing that the investigation is ongoing.

A Look-Out Circular (LOC) has been issued against Victoria Kovalenko (38), a resident of Ukraine, and Mohammed Tausif Riyaz alias John Carter (33), a resident of Mumbai.

Mira Bhayandar: In a significant development in the Torres Jewellery Investment Scam, the Mira Bhayandar-Vasai Virar (MBVV) police have managed to freeze Rs 9.51 crore which was parked by the management of the jewellery firm in two bank accounts. While one bank account had Rs 1.77 crore, the other had a balance of Rs 7.74 crore.

“So far 76 people who have lost around Rs 1.7 crore to the evil designs of the scammers have come forward to register their complaints at the Navghar police station in Bhayandar. Funds amounting Rs 9.51 crore which were parked in two bank accounts of the firm have been freezed.” informed DCP (Zone I)- Prakash Gaikwad who has appealed to other investors to come forward and register their complaints.

According to the FIR registered at the Navghar police station four people including – Sarvesh Ashok Surve, Victoria Kowalenko, Olena Stoen (both Ukrainian Nationals) and Imran Javed have been booked under the relevant sections of the Bharatiya Nyay Sanhita (BNS) and provisions of the Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, 1999.

However, former CEO of the firm Tausif Riyaz has claimed that he and Surve were actually the whistle-blowers who reportedly flagged the suspected fraud to relevant agencies and also sent a letter to the prime minister. The scam is expected to run into 1,000 crore.

The firm- Torres which boasted of being one of the largest jewellery houses in India was headquartered in Dadar having a chain of grand showrooms housed in rented spaces in areas including- Grant Road, Navi-Mumbai, Kalyan and Mira Road.

To the shock of investors in Mira Road, the establishment which was operational till Sunday (5, January) never opened on Monday. People thronged the showroom in Mira Road after learning that they had been scammed. All other branches and the headquarters in Dadar had simultaneously closed down, leaving the investors in lurch.

As per their modus-operandi, the scamsters lured investors by floating a fake scheme envisaging purchase of moissanite stones and gems with an assured 11 percent weekly cashback on the purchase value for the next one year (52 weeks).

A person investing Rs 1 lakh was assured Rs 11,000 a weekly cash back for next 52 weeks which translated into a whopping 400 percent profit amounting Rs 5.72 lakh in a year.

Mumbai: The Mumbai Crime Branch has made startling revelations in the chargesheet filed in the special MCOCA court regarding the high-profile murder of NCP leader Baba Siddique. According to the chargesheet, the ₹17 lakh contract killing was majorly funded from Maharashtra and Uttar Pradesh, with the Bishnoi gang playing a crucial role.

Details Revealed

Crime Branch sources revealed that the money trail investigation pointed to Anmol Bishnoi and Shubham Lonkar, who orchestrated the funding through accounts opened at Karnataka Bank’s Anand branch in Gujarat under the name of accused Salman Vohra. Lonkar was tasked with handling deposits into this account, while sleeper cells of the Bishnoi gang in Uttar Pradesh transferred funds using Cash Deposit Machines (CDM) into different accounts linked to the conspirators.

Approximately 60-70% of the funding came from Maharashtra and Uttar Pradesh, and no evidence of foreign funding has been discovered so far. However, a portion of the funds reportedly reached the accused via hawala networks.

While the Maharashtra funding trail has been traced, investigators are still piecing together the financial connections from Uttar Pradesh.

The chargesheet also details the meticulous planning and surveillance carried out by the shooters. According to shooter Shiv Kumar Gautam, after two months of reconnaissance, frustration was building as they failed to find the right moment to attack. The final opportunity came on October 12, and the assassination would have been abandoned had it not materialized that day.

The chargesheet states that the shooters anticipated a police chase post-shooting. To evade capture, they purchased a pepper spray worth ₹13,000, which they kept handy. Evidence gathered by the Crime Branch supports the claim that Gautam fired at Baba Siddique, while Gurmel Singh used the spray on pursuing police officers. The planning, weapons procurement, and use of unconventional tactics like pepper spray demonstrate the sophisticated strategy behind the murder.

This chilling case continues to unfold as police pursue additional leads in the money trail and remaining accomplices linked to the Bishnoi gang.