Torres Jewellery Ponzi Scam: 43 Employees Lost ₹3.23 Crore By Investing In Firm's Bogus Schemes
In seminars held to market products, customers were told that the company was going to set up 50 showrooms across the country while offering expensive gadgets and cars as gifts. The police had last week submitted a chargesheet in connection with the Torres fraud case, claiming that so far investigation has revealed that many of the investors were lured with attractive prizes and gifts.
The Torres Ponzi Scam | File Photo
Mumbai: Mumbai Police has claimed that apart from thousands of customers, 43 employees who worked at various showrooms of Torres jewellery lost around Rs 3.23 crore collectively.
Police Files Chargesheet In Connection With The Torres Fraud Case
In seminars held to market products, customers were told that the company was going to set up 50 showrooms across the country while offering expensive gadgets and cars as gifts. The police had last week submitted a chargesheet in connection with the Torres fraud case, claiming that so far investigation has revealed that many of the investors were lured with attractive prizes and gifts.
According to the chargesheet, between July and October 2024, one Dadarbased shop supplied 209 iPhones, 52 iPads, three MacBooks, nine OnePlus phones, and one adapter, collectively worth Rs2.19 crore, to Torres’ Dadar showroom. Another shopkeeper said that between October 2024 and January 2025, he supplied gadgets worth Rs 2.93 crore to the Dadar showroom. These gadgets were given to customers as prize money.
Besides, senior executives of the company portrayed the firm as stable, with plans to set up at least 50 showrooms across the country. With such assurances, even employees became victims of the fraud, investing their hard-earned money in various schemes.
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