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PONZI SCHEME NEWS

Ukrainian actor Armen Atian’s second bail plea rejected in Torres ponzi scheme case

February 09, 2026 5:06 pm

Armen Atian was arrested last year for his alleged role in the Torres case, where investors were duped after being lured with high returns of 6-12% per week on investments in jewellery and precious stones.

ED attaches properties worth Rs 2.18 crore in drugs case, freezes Rs 4.07 crore in Ponzi scheme case

February 05, 2026 9:20 am

In a separate case, the Directorate froze around Rs 4.07 crore in four bank accounts belonging to Crown Credit Co-operative Society Limited in connection with a Ponzi scheme, the spokesperson said.

Court issues summons to businessman Raj Kundra in Bitcoin ponzi scheme case

January 05, 2026 11:17 pm

In the supplementary chargesheet, Kundra had said in his statement that Bhardwaj had approached him through social media and they had discussions on bitcoins.

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‘IIT graduate, St Kitts resident’: The many lives of man held in Rs 65-cr Ponzi scheme

August 23, 2025 7:00 am

The investigation has revealed that 30 people from Pune, Mumbai, Bengaluru, Kerala and Chennai had invested in his fake firm in less than a year.

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Torres ponzi scheme: Over 10,000 investors duped, fraud amount at Rs 117 crore, say police

February 04, 2025 7:31 am

EOW officer says figure jumped to Rs 120 crore, over 11,300 investors approached them

Torres Ponzi scheme: CEO Tausif Reyaz, who claimed to be whistleblower, arrested from near Pune

January 27, 2025 10:18 pm

The Ukrainian masterminds of the Torres fraud are suspected to have sent Rs 200 crore abroad, as claimed in emails sent by alleged whistleblowers to the police and other law enforcement agencies.

Torres investment scam Explained: A crowd gathered outside Torres' Dadar office on January 10, with police officers stationed.

Explained: The Torres investment scam in Mumbai, how it operated

January 12, 2025 4:31 pm

Mumbai Torres Jewellery Scam: Torres, a jewellery store, is accused of defrauding investors through a mix of Ponzi and multi-level marketing schemes. The case FIR estimates that up to Rs 1,000 crore may have been lost.

Mumbai: 5 top executives of Dadar firm booked for running Ponzi scheme; investors lost Rs 13 cr

January 07, 2025 5:00 pm

Police suspect that that accused had duped many investors in Mumbai, Navi Mumbai and Mira Bhayander areas.

Gujarat: On the run for a month, Ponzi scheme operator held in Mehsana

December 28, 2024 1:37 am

Zala, whose scheme had attracted investments of over Rs 360 crore in four years, was on the run for around a month after cases were registered against him.