Torres scam in Mumbai: Torres company suffers loss of Rs 13 crore

Maharashtra: New revelations are now being made in the ‘Torres’ company scam exposed in Mumbai. It has been learned that the company has defrauded about 15 lakh customers by opening branches in Mumbai, Thane and surrounding areas under the name ‘Torres’. In this case, the police have arrested three accused and a lookout notice has been issued against the fourth accused. A vegetable seller named Pradeep Kumar Vaishya had invested about Rs 13 crore in this Torres company. Vaishya has also said that his family and other relatives also invested money in this company on his advice. This vegetable seller has given information to news channel TV9 Marathi about how this whole incident happened.

Vegetable seller Pradeep Kumar Vaishya said, ‘The company was started on 3 February 2024, the company was inaugurated in a grand manner. This was not an ordinary shop, it was inaugurated like a big company. Seeing this, it seemed that a big company was starting. People around were watching and as soon as I came out of the shop, I also saw drums being played. Many celebrities and other people had come to the inauguration that day. Still, I was not interested in it initially.” Vaishya said that after seeing people getting returns, he also decided to invest. He said, “Later, two-three people told me about the company’s plan. In which if you buy Rs 10,000, you will get 4,5,6 percent return weekly, not monthly… I said this is not possible. Later, on January 21, when I went and saw, everyone was getting money. The number of investors was increasing, I saw that there were 5 to 6 thousand people. Then I also invested Rs 6 lakh 70 thousand. After that, I also kept getting money for two or three weeks. I was getting Rs 40 thousand per week.” “When I felt that money was coming, I started investing money in the name of my wife, friends and relatives. I was getting money every week, so I decided that when the money came, I would return it to everyone little by little. Everyone was getting money back. So far I have taken a loan of at least Rs 1 crore 56 lakh, which I have taken from many banks and finance companies. But now everyone is asking me for my money back. Many people who had invested money in Torres on my advice are taking my name. At present I am facing a lot of difficulties. But I am telling people that a complaint has been filed against Torres.
The Maharashtra government and administration are working. I am telling them that they will get their money back,” the vegetable seller also said. A company called ‘Torres’, which deals in gold, silver and diamonds, opened an office in Mumbai on February 3, 2024. It also started the investment business. It promised to give 4 percent interest on investment on selling jewelry. Later this amount was increased to 6 percent. A few days ago the company had announced to pay 11 percent interest. Customers had invested a large amount of money. The interest was returned as promised initially. But on Monday all the offices were suddenly closed, causing panic among the customers. Customers started creating a ruckus outside some offices.