Torres Jewellery Ponzi Scam: Economic Offences Wing Arrests Company CEO Tausif Riaz In Multi-Crore Fraud Case

Mumbai: In a significant development in the Torres scam, the Economic Offences Wing (EOW) has arrested Tausif Riaz alias John Carter, the CEO of Torres.

Riaz, who had earlier claimed to be a whistleblower, has now been taken into custody by the EOW. He will be produced in court today, where the police are expected to seek his custody for further investigation.

Officials believe Riaz played a key role in the scam, which allegedly involves financial fraud worth crores of rupees. Further investigations are underway to uncover the full extent of the scam and identify other possible accomplices.