Mumbai police have arrested three key figures in the ongoing Torres Jewellers fraud case, with two additional suspects still on the run. The arrests come after it was revealed that Torres Jewellers had scammed an estimated 1.25 lakh investors of a staggering ₹1,000 crore through fraudulent investment schemes. The scam spanned across six branches in and around Mumbai, and police are working to uncover more details of the scheme.
The arrested individuals include Sarvesh Ashok Surve, director of Platinum Hern Pvt Ltd (which owns the Torres Jewellery brand), Tania Kasatova (also known as Tazgul Karaxanova Xasatova), a general manager from Uzbekistan, and Valentina Ganesh Kumar, an in-charge of stores and a Russian national married to an Indian citizen.
Police are still searching for CEO Taufik Riyaz (also known as John Carter) and director Viktoriia Kovalenko, both Ukrainian nationals. The authorities have issued look-out circulars to prevent them from fleeing the country.
The arrests occurred after news of the fraud spread quickly, leading investors to gather outside the Torres Dadar store, demanding repayment of the money they were promised. As the situation escalated, police apprehended the three executives directly from the scene.
This scam is one of the largest jewellery-related frauds in recent years, and authorities are continuing to investigate the full extent of the fraudulent activities.