Torres Jewellery Scam: Fake Moissanite Diamonds and Counterfeit Gold Scheme
Investigators reveal a massive scam involving fake diamonds and counterfeit gold, leading to significant financial losses for investors
Torres, Mumbai, India, Moissanite, Counterfeit Gold, Scam, EOW, ED
Mumbai: So, there’s this huge scam going on with Torres Jewellery, and it’s wild. The Economic Offences Wing (EOW) is digging deep into it. They’re calling in two suppliers from SEEPZ for questioning. Apparently, these guys were key players in the whole mess.
The latest scoop? Torres was not just selling fake moissanite diamonds but also pushing counterfeit gold as part of some fancy investment plans. They were getting cheap imitation stones from SEEPZ in Andheri and selling them off as high-quality gems. Can you believe that?
This whole thing blew up after some employees got fed up with unpaid salaries and the company’s shady dealings. They went to the police, and that’s when the investigation kicked off. It all started with some heated emails among the directors about missing funds, and things just spiraled from there.
One of the accused, Tania, claims she’s just a translator. She’s been in Mumbai for 17 years and insists she has nothing to do with the scam. But the investigation shows that the moissanite stones were being sold for way more than they were worth. They were getting these stones for about ₹300 and selling them for ₹40,000 to ₹50,000. That’s a massive markup!
The masterminds behind this whole operation, two Ukrainian nationals, have already fled the country. They were in charge when the company started but bailed out just before everything hit the fan. Now, the EOW is on the hunt for them, trying to track down where all the money went.
And it doesn’t stop there. The Enforcement Directorate (ED) is also getting involved, looking into the international money trails. With over ₹1,000 crore at stake, this case is getting serious. They’re sharing files and digging deeper into what went wrong.
Even the Shivaji Park Police Station is under the microscope now. They had been alerted about Torres months ago but didn’t act on it. A senior ACP is now leading an inquiry to figure out what happened. It’s a real mess, and everyone’s trying to get to the bottom of it.