Overview

• A special Prevention of Money Laundering Act court discharged chartered accountant Abhishek Gupta after ruling there was insufficient evidence tying him to the proceeds of crime.
• Special Judge R B Rote noted Gupta’s limited role as a statutory auditor and found no proof that he participated in or was aware of any money laundering activities.
• The Enforcement Directorate filed a ₹177.11 crore chargesheet in May against 13 individuals and entities, accusing them of running a Ponzi scheme under Platinum Hern’s Torres Jewellery brand.
• Legal proceedings continue against the remaining 12 accused, including Platinum Hern Pvt Ltd and Ukrainian nationals, for allegedly luring investors with fake bonuses and misrepresented synthetic moissanite stones.
• Investor protests and multiple cheating cases filed by the Mumbai Police’s Economic Offences Wing in January underscore the scheme’s collapse and widespread impact across the Mumbai Metropolitan Region.