Mumbai EOW traces Torres jewellery Ponzi scam accused to Bulgaria, uncovers new fraudulent ventures
Mumbai: The Economic Offences Wing (EOW) of Mumbai Police has made a major breakthrough in the multi-crore Torres Jewellery Ponzi scam investigation. Officials have traced the fugitive accused to Bulgaria, where they have set up new fraudulent ventures under different names, including Moissanite Bulgaria and Moissanite Varna.
The main accused, Artem Oliferchuk, along with Olena Stoyan, Oleksandra Borovyk, Oleksandra Zhapichenko, Oleksandr Tredokhib, and Iurchenko Igor, have reportedly opened showrooms in Bulgaria, using the same fraudulent investment schemes as in India. The accused had initially fled to Poland before establishing new operations in Bulgaria.
Authorities have obtained details of websites linked to these fraudulent activities and have notified the Home Ministry. Another arrested accused, Tausif, had also traveled to Sri Lanka to explore locations for similar ventures, suggesting that the scam network is expanding beyond India and Europe.
Investigations reveal that the accused are offering unrealistic cashback schemes, promising 4% returns per week (208% annually) on gift voucher purchases and 2% per week (104% annually) on jewellery purchases, designed to lure investors.
The Torres scam has impacted over 12,783 victims in India, with losses exceeding ₹130 crore. With operations now expanding internationally, authorities are intensifying efforts to track down the fugitives and prevent further fraud.
A Blue Corner Notice has been issued against the key accused, including Olena Stoyan, Viktoria Kovalenko, Mustafa Karakoch, Oleksandr Borovyk, Oleksandr Zhapichenko, Oleksandr Brunkiwska, Oleksandr Tredokhib, and Liyurchenko. Officials are gathering concrete evidence and plan to approach the Union Home Ministry for further action.
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Two forest officials in ACB net for taking Rs 3.5 lakh bribe in Telangana
Hyderabad (PTI): Two forest officials were caught red-handed on Thursday for allegedly taking Rs 3.5 lakh bribe in Bhadradri Kothagudem district, the Telangana ACB said.
S Sujatha, Forest Divisional Officer, Bhadrachalam and B Krishna, Deputy Range Officer of Tegada, were caught by the ACB while they demanded and accepted an illegal gratification of Rs 3.5 lakh from a complainant at the Forest Divisional office, the Anti-Corruption Bureau (ACB) said in a release.
The bribe was demanded "for not registering cases against the complainant for allegedly causing damage to forest trees, while laying 2 km BT road from Pusuguppa village, Charla mandal in Bhadradri Kothagudem district to the Chattisgarh broder which was completed in 2025, and also not to disturb the complainant in his present and future works," it said.
The accused officers had initially demanded Rs 10 lakh bribe, and subsequently, on the request of the complainant, they reduced the bribe demand to Rs 3.5 lakh, the ACB alleged, adding that the tainted currency was recovered from the accused.
The accused officers performed their duties "improperly and dishonestly" to obtain undue advantage, the ACB said. The case is under investigation.
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