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A key accused in the Rs 150 crore Torres Ponzi scam that defrauded over 15,000 investors in Mumbai, has been located in Ukraine, a report has claimed.
A representative photo for Mumbai Police (PTI)
Lurchenko Igor, one of those who masterminded and operated the Torres Ponzi scheme, has been traced to Ukraine, the Indian Express reported.
Igor is one of the key members of the Ukrainian gang that duped over 15,000 people from Mumbai and nearby districts of around Rs 150 crore.
The report also quoted senior EOW officials as saying that the Mumbai police’s Economic Offences Wing (EOW), in coordination with the Crime Branch, has initiated the extradition to bring the accused foreigner back to India.
Igor had allegedly fled India even before the fraud could come to light.
“After being informed by Ukrainian authorities, we completed due documentation and recently initiated proceedings to extradite him to India,” the report quoted the EOW officer as saying.
“Soon, Ukrainian authorities will be sent an extradition request via Interpol along with all the relevant documents translated into the official language of Ukraine, and after Ukraine acknowledges our investigation, a team from Mumbai police will be sent there to extradite him to India,” he said.
“Once he is brought to India, we will get custody and interrogate him. We would be able to gather more evidence to establish his exact role in the operations of the Torres Ponzi scheme,” the report quoted another EOW official.
In January this year, the police had booked top executives of Torres Jewellery House for allegedly cheating investors of crores of rupees in schemes it had floated, even as panicky investors demanded money they were owed.
Cases were registered against five executives of the jewellery store, which has showrooms in Dadar, Grant Road, Mira Road, Vashi and Kalyan.
Later, the store uploaded a message on its website, claiming that its Chief Executive Officer (CEO), Tausif Reyaz, was responsible for “robbing and vandalising the stores, and looting jewellery and cash” along with other employees.
As the investigations into the progress progressed, the Mumbai Police Economic Offences Wing searched multiple locations in the case and seized around Rs 3 crore and various incriminating documents linked to the alleged investment fraud.
In a First Information Report (FIR), the police mentioned a case of fraud against 66 different investors, for Rs 13.48 crore.
However, an estimated 1.25 lakh people may have invested their money and lost around Rs 1,000 crore altogether, it was learnt.
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Vani Mehrotra is the Deputy News Editor at News18.com. She has nearly 10 years of experience in both national and international news and has previously worked on multiple desks.
Vani Mehrotra is the Deputy News Editor at News18.com. She has nearly 10 years of experience in both national and international news and has previously worked on multiple desks.
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