Mumbai: Dadar-Based Torres Jewellers Accused of Defrauding Investors in Multi-Crore Scheme
Mumbai, 7th January 2025: Shivaji Park police have filed an FIR against the directors and CEO of Torres Jewellers following allegations of defrauding investors of over Rs 13.48 crore. The complaint, lodged by a vegetable vendor from Nariman Point, led to a gathering of investors outside the company’s Dadar office, where they demanded the return of their investments after the promised returns ceased.
Thousands of investors, particularly in the Mira-Bhayander area, are facing potential losses after Torres Jewellery unexpectedly shut down. The closure was discovered on Monday when the store was found locked.
Operating under Platinum Haren Private Limited, which was registered in 2023, Torres Jewellers opened a major outlet in Dadar in 2024 and expanded to other locations, including Mira-Bhayander. The company promised high returns on gold, silver, and moissanite investments, offering 48%, 96%, and 520% annually, respectively, with weekly payouts. Investors are now concerned as returns have ceased for the past two weeks.
The company primarily promoted moissanite investments, offering returns between 8% and 11% weekly, the highest among the options. Platinum Haren Private Limited lists its office in the Girgaon Opera House building. The company’s listed directors—Imran Javed, Sarvesh Surve, and Olena Styne—all share the same company address.
The complainant, Pradeep Kumar Mamraj Vaishya, claims the fraud took place between June 21, 2024, and December 30, 2024. Vaishya, along with six other investors, reported that Platinum Haren Pvt. Ltd. promised high returns from moissanite investments, offering a weekly return of 6%.
