Three Arrested in Torres Scam, Including Two Foreign Nationals
Three people, including two foreigners, were arrested for duping investors of Rs 13.48 crore in the Torres scam.
Mumbai, Navi Mumbai, Torres Scam, Investors, Arrest, Maharashtra
The police in Shivaji Park are on it. They say these guys were luring people in with promises of returns from investments in a luxury jewelry brand. But when investors went to check on their money, they found the stores in Dadar and Navi Mumbai’s Sanpada closed up tight.
It all started when people began to worry after the stores shut down without a word. They rushed to the police to file complaints, hoping to get their money back. Investors were promised weekly returns, but things went silent after January 1. One guy, Pradip, was really stressed out, saying he had no clue when he’d see his cash again.
Another investor, Mutuza, had put in Rs 1 lakh, expecting a nice return, but now he’s left hanging. Many others are in the same boat, with some families investing as much as Rs 50 lakh based on the brand’s promises.
The police have filed a case against the five accused under the Maharashtra Protection of Interest of Depositors Act. It’s a real mess, and folks are just hoping to get their money back soon.