Torres Jewellery Scam Defrauds 1.25 Lakh Investors of ₹1,000 Crore

The Mumbai-based jewellery chain is accused of running a Ponzi scheme, shutting stores, and blaming rogue employees as police investigate and arrests are made.

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.