Overview
- Non-bailable warrants were approved against Sagar Paresh Mehta and three Ukrainian nationals — Oleksandr Zapichenko, Olena Stoian, and Viktoria Kovalenko — in the Torres/Platinum Hern case.
- Investigators told the court that Mehta left India on December 28, 2024 and is believed to be in Dubai, while premises linked to the three Ukrainians were found locked with summons affixed.
- The ED alleges the operation raised about ₹177 crore from thousands of small investors through high-return schemes run via Torres showrooms in Mumbai.
- According to the ED, large volumes of cash were converted into cryptocurrency and routed back as purported legitimate investment as part of the laundering method.
- The court called it a serious economic offence and noted that securing the accused is necessary for effective investigation and trial, citing their continued evasion of arrest.