Torres Company Fraud: Disappearance of 500 Crore Rupees from Investors in Dadar
Introduction
Torres Company Fraud : Friends, do you remember the famous movie “Phir Hera Pheri” starring Akshay Kumar, Paresh Rawal, and Sunil Shetty? In the film, people are deceived by a fraudulent scheme called “Laxmi Chit Fund Company.” But this isn’t limited to just movies; a similar scam occurred in real life in Mumbai. A company named Torres vanished with 500 crore rupees belonging to three lakh investors. Let’s dive into the details of this shocking incident. Torres Company Fraud
Background of Torres Company
Torres Company introduced itself as an “Artificial Diamond Seller.” Established in 2020, the company set up branches in prominent locations like Dadar, Sanpada, Mira Road, Kandivali, Kalyan, Grant Road, and Bhayander in Mumbai and Navi Mumbai.
The company aggressively promoted schemes offering extremely attractive returns, claiming investors could earn 3% to 11% interest weekly. Initially, some investors received their returns, which helped the company gain trust and attract more people. Torres Company Fraud
How Torres Company Gained Investors’ Trust
- Promise of High Returns: The company proposed weekly returns of 3% to 11%, encouraging people to invest large sums in a short time.
- Initial Returns to Build Trust: During the initial months, the company paid returns promptly, leading to word-of-mouth publicity that attracted more investors.
- Showcasing Wealth: The company showcased luxurious lifestyles by providing high returns, expensive cars, and premium houses to select investors to gain trust.
- Selling Fake Jewelry: Under the guise of selling “artificial diamonds,” the company siphoned money from the investors. Torres Company Fraud
Unfolding of the Torres Company Scam
By early 2025, all the company’s branches, including its headquarters, were abruptly shut down. On January 5, 2025, many investors started reporting delays in receiving their promised returns, sparking suspicion of foul play. Torres Company Fraud
Key Signs of the Scam:
- Deadlines for payouts were repeatedly postponed.
- Investors were assured returns would be paid by January 8, but this didn’t happen.
- All offices were suddenly closed, and the company’s website went offline.
Strategies Used by the Fraudsters
- Fake Technical Issues: Investors could access their investment details through unique user IDs and passwords. However, just before the scam was exposed, the company claimed the website faced “technical issues.”
- False Promises and Products: The jewelry sold by the company was discovered to be fake. However, the lure of high returns made people overlook these red flags.
- International Escape: Police investigations revealed that the main accused fled to Dubai.
Police Investigation and Current Status
A case has been registered against Torres Company at Shivaji Park Police Station. The investigation has unveiled the following details: Torres Company Fraud
- Key accused include Victoria Kowalenka, Taufiq Riaz alias John Carter, Tanya Kassava, and others.
- The scam amount might exceed ₹500 crore, possibly reaching ₹3,000 crore.
- Riot control teams have been deployed outside Dadar and other branches due to investor unrest.
Reactions and Experiences of Investors
Mehul Chaudhary (Investor): “Initially, I received good returns, so I encouraged my friends to invest. But now that they’ve also been cheated, I feel guilty.”
Dnyaneshwar Bodke (Investor): “Blinded by greed, I sold my house and invested ₹17 lakh. Now I realize it was a mistake.”
Tips to Protect Yourself from Investment Scams
- Avoid Falling for Greed: Stay away from schemes promising high returns in a short time.
- Thoroughly Research the Company: Verify the company’s licenses, financial standing, and track record before investing.
- Invest in Government-Approved Schemes: Trust only certified and authorized investment plans.
Conclusion
The Torres Company scam serves as a wake-up call for investors across the nation. Blindly trusting schemes that promise to double your money in no time is risky.
Friends, we hope this article helps you make informed investment decisions in the future. Share your thoughts in the comments. If you found this article helpful, share it with your friends. Thank you!