On Tuesday, Mumbai police arrested three senior officials from Platinum Hern Pvt Ltd, which is accused of running a massive Ponzi scheme under the brand name of Torres jewelry. The company allegedly defrauded approximately 1.25 lakh investors to the tune of Rs 1,000 crore. The arrested individuals include General Manager Taniya Xasatova (also known as Tazagul Karaxanovna Xasatova, 52), Director Sarvesh Ashok Surve (30), and Store In-charge Valentina Ganesh Kumar (44).
The two founders of Platinum Hern Pvt Ltd, suspected to be Ukrainian nationals, are believed to have fled the country. In response, the police have issued Look Out Circulars (LOCs) for the two masterminds of the massive financial fraud.
Given the scale of the scheme, Mumbai police have transferred the case to the Economic Offences Wing (EOW), which will now lead the investigation into the fraudulent activities linked to the Torres jewelry store chain. This transfer highlights the seriousness of the case, as it is one of the largest financial frauds uncovered in the city, involving significant numbers of victims and a substantial financial loss.
The investigation continues, and authorities are working to track down the fugitive founders, while the arrested individuals face serious charges under financial fraud and Ponzi schemes.