Torres scam amount rises to Rs 18.5 cr; promoters had elaborate gift scheme to lure investors
Mumbai, Jan 9: The promoters of Torres jewellery brand, which is being probed for allegedly running a ponzi scheme, promised cars, flats, gift cards and hampers to attract investors, a Mumbai police official said on Thursday.
Hundreds of investors have alleged that they have been duped and a probe into these allegations is being carried out by the Mumbai police's Economic Offences Wing (EOW).
The EOW team visited the brand's showroom in Dadar West during the day as part of investigations, the official said.
"The probe has found the promoters made a combination of ponzi and multi level marketing (MLM) schemes and had promised returns of 3 to 7 percent per week on investments. They promised lucrative returns to those who would spread the schemes and bring in more investors. While giving stones to investors, the promoters had earmarked gift cards, certificates, hampers and cars for them," he said.
"These items were kept for display in the Torres jewellery brand showroom in Dadar. We have recovered them along with stones. A huge amount of cash was also found and this is being counted," the official added.
Deputy Commissioner of Police Sangramsingh Nishandar, who is leading the probe, said the EOW will take all efforts to protect the interest of investors.
"We have opened a special cell at Shivaji Park police station so that those who invested money in the Dadar showroom can fill a form giving details of the money they put in these schemes as well as returns they received so far. Initially, there were 66 investors who had lodged complaints, and the amount was Rs 13.48 crore. This figure has increased to Rs 18.5 crore and is expected to rise further in the days to come," the DCP informed.
"The EOW has conducted searches at various places in connection with the probe. We have arrested three persons and are questioning them," he added.
Another official said EOW teams carried out raids in Colaba, Dadar and Dombivali and some other places and have confiscated important documents, investment papers as well as cash.
"Among the investors who were duped by the company was vegetable seller Pradeep Kumar Vaishya, who lost around Rs 4 crore in the scam. He had collected money from his kin and friends. Amid the probe, hundreds of new investors have approached police," this official said.
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Bihar: Over 150 children fall ill after consuming 'mid-day meal' in Saharsa
Saharsa (PTI): More than 150 children were taken ill after allegedly consuming food that was part of the mid-day meal in a school in Bihar’s Saharsa district, a senior official said on Thursday.
The incident occurred at a middle school in Baluaha village of the district.
The official said that 115 children were undergoing treatment at the Sadar Hospital, while around 50 students were admitted to Mahishi Public Health Centre.
“We received information that several children fell ill after consuming the mid-day meal in Baluaha. The children were initially treated at the primary health centre, but later, many were referred to the Sadar Hospital,” Saharsa District Magistrate Deepesh Kumar told reporters.
“According to doctors, the health condition of the children has improved, but they will be kept under observation for some time. There is no need to panic. Some kids are having mild fever. They are being treated accordingly,” Kumar said.
Meanwhile, family members of some children claimed that a snake was found in the container in which cooked pulses was stored at the school.
Of the 545 students present in the school, 200 had already eaten their meals by the time the snake was spotted, and later complained of stomach ache and vomiting, they said.
Regarding the claims, the DM said food samples have been collected from the school.
“We will be able to comment on this only after the results of the tested samples arrive,” he said.
