Torres fraud: Accused spent Rs 25 cr to set up offices, pay initial returns to investors: Police to court

The Economic Offences Wing (EOW) submitted that in Mumbai alone, from 37 complaints from investors who had come forward initially, the number has gone up to 1916 till Sunday, with the invested amount by them to the tune of Rs 38.96 crore so far.

The complainant, an investor, had claimed that there are over a lakh investors, with losses estimated to be around Rs 1,000 crore. However, a probe is still on to find the actual extent of the alleged fraud.

Taniya Xasatova alias Tazagul Karaxanovna Xasatova, 52, director Sarvesh Ashok Surve, 30, and store incharge Valentina Ganesh Kumar, 44, were sent to further police custody till January 18 as the court said that considering the gravity of the case, their custodial interrogation is necessary.

They have been booked under charges, including the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999.

On Monday, the EOW, through its prosecutor JN Suryavanshi, submitted that searches were conducted in various places linked to the Torres company and cash of Rs 4.97 crore was found at the Dadar showroom, gold ornaments of Rs 1.74 crore, silver of Rs 90 lakh and diamonds valued at Rs 1.21 crore. Police also seized Rs 77 lakh from the house of Taniya in Colaba, taking the total seizure in the case to Rs 17.40 crore, including in bank accounts frozen.

The EOW sought further custody of the accused on the grounds that they needed to find the websites and mobile phones of the three to determine how they communicated with the other accused, who are Ukrainian nationals. It was submitted that they have so far identified 11 people, including Victoriia Kovalenko, a former director of the company, and look out circulars have been issued.

Lawyer Ravi Jadhav, representing Valentina and Suresh, submitted that they were only salaried employees of the company and were earning Rs 20,000-Rs 30,000.