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Mumbai Special PMLA Court Denies Bail To Ukrainian Actor In ₹148 Crore Torres Investment Fraud Case

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The special PMLA court has denied bail to Ukrainian actor Armen Ataian, held in the Torres investment fraud case, observing that he was in continuous touch with the absconding accused.

Large-scale investment fraud alleged

The Economic Offences Wing (EOW) had in March last year submitted a chargesheet against eight accused and claimed that around 14,000 investors, who suffered losses totalling Rs 142 crore, had come forward.

Agencies also suspect that Platinum Hern Pvt Ltd, which runs Torres, may have duped nearly 1.25 lakh investors of around Rs 1,000 crore by offering 6% weekly returns through investments in moissanite bracelets, an alternative to diamonds.

Accused denies involvement

Ataian was arrested on January 28 last year and sought bail, claiming that he is neither a director, shareholder, employee nor agent of the company in question. The only role assigned to the applicant was on the basis of a general statement that he allegedly assisted the foreign national accused in opening the company, but the investigation is completely silent as to how and when he assisted the main accused.

The applicant contended that he is not the perpetrator of the crime and not the beneficiary of the alleged fraud amount.

Prosecution opposes bail

The prosecution opposed the bail plea, claiming that during the course of the investigation it was revealed that the applicant had introduced accused Tausif Riyaz alias John Carter to the absconding foreign national and helped them in committing the crime.

According to the prosecution, there was a criminal conspiracy among the accused to open various schemes to collect investments from the gullible public by promising high returns.

Court cites gravity of offence

The court noted: “There are allegations that the applicant had introduced the foreign national accused to Tausif Riyaz alias John Carter and he was in continuous contact with them. In the present crime, there are about 14,964 investors who have suffered a loss of Rs 148.89 crore. There are three other similar crimes registered against the company. Therefore, considering the nature, gravity, seriousness, large magnitude of the offence and the larger interest of society at this stage, it is not just and proper to exercise discretion and grant bail to the applicant/accused. There is every possibility of fleeing and tampering with the prosecution evidence.”

Crime

Another Class 12 student found dead in Delhi; suicide suspected

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Just days after a Class 12 student died after allegedly immolating herself in East Delhi, another student died by suspected suicide at her residence in Delhi’s Bharat Nagar area, police said on Tuesday.

The body of the Class 12 student was found at her home with a scarf tied around her neck, under the Bharat Nagar police station area. According to the investigators, a preliminary probe suggests it is a case of suicide.

The Bharat Nagar police have taken custody of the body and initiated an investigation into the matter.

Police said that some chat messages have surfaced during the initial probe, indicating that the girl had been under distress.

However, the case is being investigated from all possible angles.

The incident comes days after a Class 12 student died after allegedly pouring an inflammable substance on herself and setting herself on fire at Sarvodaya Bal/Balika Vidyalaya in East Delhi’s Krishna Nagar area.

The recovery of the student’s charred body at Sarvodaya Bal/Balika Vidyalaya triggered panic among teachers and students on the school premises, prompting the authorities to initiate an investigation into the circumstances surrounding the student’s death.

Officials said certain suspicious items were reportedly found in the student’s school bag. However, the nature of these items had not been officially confirmed at the time of filing the report.

According to officials, a Police Control Room (PCR) call reporting a fire incident was received from the school located in the Krishna Nagar area of Delhi’s Shahdara district.

“Upon receipt of the information, police staff from PS Krishna Nagar promptly reached the spot, where an approximately 18-year-old female student of Class 12th was found in a burnt condition behind the school guard room,” officials said.

They further stated that some materials were recovered during the initial proceedings at the scene and from the deceased student’s school bag. These items are being examined as part of the investigation.

The police said a Crime Team of the Delhi Police was called to the school to inspect the scene, examine the circumstances and collect relevant evidence that could help establish the sequence of events leading to the incident.

“The circumstances leading to the incident are being examined, and further enquiry is in progress,” the police said.

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Crime

Mumbai Police invokes MCOCA against all accused in Tiger Shroff firing case

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The Mumbai Police on Tuesday invoked stringent sections of the Maharashtra Control of Organised Crime Act (MCOCA) against all the accused arrested in connection with the firing incident involving Bollywood actor Tiger Shroff.

An official statement said that provisions of the Maharashtra Control of Organised Crime Act (MCOCA), 1999 have been invoked in DCB CID CR No. 143/26, registered on 19/10/26 u/Ss 109(1), 3(5) of BNS r/w sections 3, 25 of Arms Act; with permission of the competent authority under Section 23(1)(a) of the said Act dated 27/10/26.

Accordingly, Sections 3(1)(ii), 3(2) and 3(4) of MCOCA have been added to the case against all accused.

A case against the accused was registered by the Mumbai Police on October 19 under the Bharatiya Nyaya Sanhita (BNS) and the Arms Act.

Subsequently, the approval to invoke the MCOCA was granted on October 27. Police said that the investigation in the case has been expedited considering the organised crime background linked to it.

Further investigation into the case is currently underway.

Earlier, the Mumbai Crime Branch established the alleged motive behind the firing incident involving Tiger Shroff, stating that the attack was carried out with the objectives of extorting money, establishing the gang’s dominance and creating fear among the public.

According to the Crime Branch’s investigation, the accused allegedly involved in the firing incident have links to the Lawrence Bishnoi gang.

The police have alleged that the gang targeted Tiger Shroff as part of an attempt to strengthen its influence, intimidate people and secure financial gains through extortion.

The Mumbai Crime Branch has stated that the accused were allegedly operating as active members of an organised crime syndicate.

Investigators believe that the attack was not an isolated act but part of a planned criminal conspiracy intended to achieve financial benefits, assert the gang’s dominance and spread terror within society.

The accused carried out the attack using illegal and lethal weapons as part of a pre-planned conspiracy targeting the star.

The investigation has also revealed that the alleged conspiracy was coordinated through an inter-state network involving several locations, including Delhi and Mumbai.

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Crime

Maha Cyber arrests one in 4.97 lakh online share market investment fraud case

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One person has been arrested by Maharashtra Cyber in connection with a Rs 4.97 lakh online share market investment fraud case, officials said on Tuesday.

The complaint was filed by 42-year-old Kalyan, who was allegedly induced to invest money through an online trading application after being approached through a social media advertisement and a WhatsApp group operating under the name “Breakthrough Communication”, according to the officials.

As per the complaint, the fraud took place between August 25 and September 23, when Kalyan came across a social media advertisement referring to Susquehanna International Group and subsequently joined a WhatsApp group.

“A person using the name ‘Shikha Sharma’ allegedly contacted the complainant, provided investment-related guidance, and encouraged him to invest in the share market through a trading application. Believing the representations to be genuine, the complainant transferred a total amount of 4.97 lakh into eight different bank accounts,” officials said.

After suspecting financial fraud, Kalyan reported the matter through the National Cyber Crime Helpline 1930 on September 27.

Subsequently, an FIR was registered at the Nodal Cyber Police Station, Maharashtra Cyber, under Sections 318(4) and 319(2) of the Bharatiya Nyaya Sanhita (BNS), read with Sections 66(C) and 66(D) of the Information Technology (IT) Act.

Officials said that following this, Maharashtra Cyber initiated an investigation to trace the financial transactions and identify the persons involved in facilitating the fraud.

“During the investigation, the police examined the banking trail and the movement of the defrauded funds across multiple accounts. The investigation revealed that the money had moved through various bank accounts,” they added.

According to officials, further inquiry indicated that the funds received in an account belonging to Nikhil Kamble were allegedly withdrawn in cash and handed over to the arrested accused, Mohammed Ali Kapadia, through an intermediary arrangement.

Mohammed Ali Kapadia (23) appeared before the investigating officer on October 26. During questioning, his alleged role in receiving and disposing of cash linked to the fraudulent transactions came under investigation. He was subsequently arrested in connection with the case, officials said.

They added that the investigation further indicates that the accused may have acted in coordination with other persons to facilitate the withdrawal of money generated through cyber fraud.

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