Torres scam: Absconding accused who escaped to Prayagraj arrested

An official said the accused was arrested from Navi Mumbai and had been hiding in Prayagraj where the Kumbh Mela was in progress in the past few weeks.

By: Express News Service

Mumbai | February 20, 2025 09:37 PM IST

1 min read

Singh is alleged to have taken nearly Rs 14 crore invested by people into a group of companies and routed it back to Torres in legitimate currency. (Express File)

The Economic Offences Wing (EOW) of Mumbai Police on Wednesday arrested 58-year-old Lallan SIngh who had been absconding in the Torres fraud case ever since the scam came to light.

Singh is alleged to have taken nearly Rs 14 crore invested by people into a group of companies and routed it back to Torres in legitimate currency. This is the seventh arrest in the case.

An official said the accused was arrested from Navi Mumbai and had been hiding in Prayagraj where the Kumbh Mela was in progress in the past few weeks. Earlier, the ED too had raided premises linked to Singh.

The Torres investment scam revolves around Platinum Hern Pvt Ltd, the company behind the Torres jewellery brand, which has been accused of defrauding investors through a Ponzi scheme and multi-level marketing (MLM) tactics.

More than 10,800 investors have lodged complaints with the Mumbai Police, alleging they were duped in the fraud. The total amount defrauded from the investors is believed to exceed Rs 57 crore, police officers stated.

Stay updated with the latest - Click here to follow us on Instagram

Tags:

Ferran Torres