In Mumbai, a significant fraud has been exposed involving a jewellery company called Torres, which deceived investors by offering to double their money swiftly. According to a noteworthy update, a Dadar vegetable dealer purportedly invested an astounding Rs 4 crore in Torres, prompting inquiries on how he could obtain such a substantial amount.
Following the scam’s revelation, Torres’ stores in Dadar, Navi Mumbai, and Kalyan were closed, attracting many distraught residents to the areas. A lawsuit has been brought against five Torres-related people. The company had enticed investors with the promise of a weekly return of 10% on their deposits. Many investors got their money back, increasing their faith in the plan. The company offered a diamond as collateral to further tempt them, but it has since been discovered that the gem was fake and worth only Rs 500. According to reports, investors contributed between Rs 10 lakh and Rs 50 lakh.
How did Pradeep Kumar Vaishya manage to earn four crores?
Vegetable vendor Pradeep Kumar Vaishya, 31, reportedly put Rs 4 crore in Torres, according to Zee 24tas Marathi channel news. He complained to the Shivaji Park Police Station after discovering he had been duped. According to Vaishya, he first became aware of Torres while he was employed at his store, which is across from the company’s showroom. He first invested Rs 6.7 lakh, drawn by their assurance of interest returns and a diamond as collateral. His confidence in the plan grew due to the steady returns he obtained over two to three months.
Encouraged by these early returns, Vaishya notified his family and friends, borrowed money from them, and even mortgaged his home. A total of Rs 4.27 crore was invested as a result. But when the fraud was exposed, his confidence was destroyed. The source of Vaishya’s Rs 4 crore investment is still being investigated and raises questions.
