Crime
Revelations In Torres Jewellery Chain Scam: Company’s Head Accounted alerted Police, Delayed By Authorities, Claims Report
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Mumbai: A massive investment scam involving the foreign-based Torres Jewelry company allegedly duped around 1.25 lakh investors. New details have surfaced in the alleged scam. Three days after the alleged fraud surfaced, the police said that its head accountant had alerted cops, reported Media.
As per the media report, Abhishek Gupta had filed complaints with several authorities, including the Mumbai Police and the Enforcement Directorate (ED). He alleged fraudulent practices by the firm. The accountant further claimed that despite complaints, no action was taken by the authorities.
Gupta first submitted his complaints on December 30, the police said as reported by Media. He also reportedly tried to meet officials to report the alleged fraud. However, the main accused managed to flee before a raid by the Navi Mumbai Police at the jewellery chain’s Sanpada store in the city. Gupta approached the Shivaji Park Police Station and also sought police protection on Wednesday after he reportedly received threatening calls.
“Gupta also visited Byculla police station on Tuesday night to report the threat calls.,” a police officer told the media house. Meanwhile, the jewellery chain alleged that Gupta and its CEO, Tausif Riyaz, were involved in vandalising and robbing the stores.
The sophisticated fraud known as the Torres Jewellery scam was initiated in February 2024 and targeted a specific economic group. The jewellery chain operated six stores in and around Mumbai.
It allegedly floated schemes that promised incredible returns on jewellery purchases, generous rewards for referrals in a Ponzi scheme, and huge lucky draws that gave away expensive cell phones and cars in an attempt to instil confidence using what turned out to be fake jewellery.
The firm allegedly continued to increase the payout margins on its extravagant investment schemes from 6 per cent to 13 per cent in the run-up to the Christmas and New Year’s holiday in 2024.
The company reportedly even introduced new schemes to entice even more investments. Then it suddenly closed. Thus, an estimated 1.25 lakh investors have been defrauded by Torres. The majority of them have very low incomes.
The company is blaming few rogue employees who duped investors for large some of money. On Wednesday, it announced to resume its operations. The announcement in this regard was made by the firm on its ficial Youtube and Instagram channel.
Crime
Gujarat: Bhuj Sessions Court Convicts Former SP Kuldeep Sharma In 40-Year-Old Police Misconduct Case, Sentences Him To 3 Months In Jail
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Kutch: The Bhuj Sessions Court has finally delivered its verdict in a 40-year-old case of police misconduct involving former Kutch Superintendent of Police (SP) Kuldeep Sharma. The case, which dates back to 1984, involved a complaint filed by late Congress leader Mandhara Abdullah Haji Ibrahim, also known as Ibhala Seth, alleging that Sharma had verbally abused, humiliated, and physically assaulted him in the police office.
After a lengthy legal battle spanning four decades, the court found Kuldeep Sharma and fellow officer Girish Vasavada guilty. Both were sentenced to three months of imprisonment and a fine. Meanwhile, two other co-accused officers, BN Chauhan and PSI Bishnoi, passed away during the prolonged legal proceedings. Another accused, Girish Vasavada, was declared innocent by the court.
In 1984, Congress leader Mandhara Abdullah Haji Ibrahim had visited the SP office in Kutch along with several prominent political leaders, including then MLA Kharashankar Joshi, Mandvi MLA Jaykumar Sanghvi, Gabhubha Jadeja, and Shankar Govindji Joshi. They were there to discuss a case registered in Naliya when a heated argument broke out.
It was alleged that then-SP Kuldeep Sharma insulted, abused, and later called his fellow officers to physically assault Ibhala Seth. As a result, he sustained injuries. The incident led to an immediate response from advocate MB Sardar, who was part of the delegation. He filed a complaint against Sharma and four other officers in the Chief Judicial Court of Bhuj.
The case dragged on for decades, with multiple delays and legal hurdles. Over the years, several legal representatives took over the case. In 2020, following the demise of complainant’s lawyer MB Sardar, advocate RS Gadhvi took over as the main counsel. He ensured that the case progressed towards its final hearing.
During the proceedings, the court considered multiple testimonies and evidence. Finally, on January 28, 2025, the final hearing was concluded, and the verdict was pronounced on February 10, 2025—a staggering 40 years after the initial complaint was filed.
Following the court’s ruling, Iqbal Mandhara, son of the late complainant, expressed his satisfaction with the verdict. Standing outside the Bhuj court premises, he celebrated by distributing sweets to supporters.
Speaking to the media, Iqbal Mandhara said, “Justice delayed is justice denied, but we are happy that, after 40 years, the truth has been acknowledged. My father fought for justice, and today, we finally see a verdict that holds those responsible accountable.”
Advocates representing Kuldeep Sharma and the other accused argued that the prosecution had failed to provide substantial evidence. However, the court ruled that public officials are not exempt from legal scrutiny and must be held accountable, regardless of their position.
Crime
Fraud Alert! Andheri Family Duped Of ₹1.25 Crore In High-Return Investment Scam; 3 Booked
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Mumbai: A family in Andheri fell victim to a major investment scam, losing over Rs 1.25 crore after being promised high-interest returns. The MIDC Police have registered a case against three individuals, Rohan Shinde, Hemali Shinde and Sudip Shinde, on charges of cheating and embezzlement. Summons for their questioning are expected soon, as per reports.
Details On The Fraud
The complainant, a 63-year-old retired woman from Andheri, became acquainted with the accused four years ago. Over time, the Shinde family gained her trust and persuaded her, along with her son and daughter-in-law, to invest in a company that supposedly offered a lucrative 2.5% monthly interest rate. They further claimed that the company was planning to expand across Maharashtra with nearly 100 new branches, promising even higher returns for larger investments.
Convinced by these assurances, the complainant and her family transferred Rs 1.25 crore. However, instead of depositing the funds into the company’s official bank account, the accused redirected the money into their personal accounts, as reported by Lokmat Times. Initially, the investors received regular interest payments, maintaining their confidence in the scheme. However, in February 2024, the payments suddenly stopped.
Accused Avoided Victim’s Demands Of Fund Recovery
When the family tried to reach out for explanations, the accused began avoiding them. Their repeated attempts to recover the invested amount were ignored, raising suspicions about fraudulent activity. Realizing they had been deceived, the complainant approached the MIDC Police and filed a complaint.
Following an initial investigation, the police registered a case against the accused for cheating and embezzlement. Local police os now probing the matter further and action is expected against those involved.
Crime
Israeli army kills four Palestinians in Gaza: Health authorities
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Gaza, Feb 10: Israeli troops killed four Palestinians, including an elderly woman, in two separate incidents in the north and south of the Gaza Strip, the Gaza-based health authorities said.
“Three Palestinians were killed by Israeli forces while returning to their homes near the Kuwait Roundabout, east of Gaza City. Their bodies were transferred to the Baptist Hospital,” the health authorities said in a press statement.
In a separate incident, the health authorities reported that an elderly woman from the Mahna family was shot dead by Israeli forces east of the town of Al-Qarara, near Khan Younis in the southern Gaza Strip on Sunday.
The killings follow the withdrawal of Israeli forces from the Netzarim Corridor — a strip of land that bisected Gaza from north to south.
Meanwhile, the health authorities announced that the death toll from Israeli attacks on Gaza since October 7, 2023, has risen to 48,189, with 111,640 others injured.
Gaza’s health authorities reported eight deaths and two injuries in the past 24 hours, including seven bodies recovered from the rubble and one additional fatality.
They warned that more victims remain trapped beneath the debris in areas that are difficult to access due to ongoing shelling.
On Sunday, the health authorities urged Palestinian residents to donate blood, warning that supplies have been completely depleted after 15 months of war.
“Our blood bank is empty, and we need immediate donations to save lives,” they said.
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