Overview

• Torres Jewellery allegedly duped 1.25 lakh investors through a Ponzi scheme offering high returns, defrauding over ₹1,000 crore.
• The scheme promised up to 11% weekly returns on investments in moissanite stones and other jewellery, with payouts ceasing in late December 2024.
• Three individuals, including two foreign nationals, have been arrested, while the alleged masterminds, Ukrainian nationals, have fled the country.
• The company has blamed its CEO and other employees for orchestrating the fraud and staging a robbery at its stores, releasing CCTV footage as evidence.
• The Economic Offenses Wing is investigating the case, with police urging investors to file complaints to strengthen the case against the accused.