Two Ukrainians among masterminds of Mumbai's massive Rs 22 crore ponzi scam
The Economic Offences Wing (EOW), which is investigating the case against the Torres Jewellers brand, will issue a Look-Out Circular (LOC) soon against Artem and Olena Stoin, who are believed to have fled the country.
PTC News Desk: Two Ukrainian nationals including a woman have been named as key accused in the massive Ponzi scam of Mumbai. The infamous ponzi scheme has duped hundreds of people in Mumbai by promising them big returns on their investment.
The Economic Offences Wing (EOW), which is investigating the case against the Torres Jewellers brand, will issue a Look-Out Circular (LOC) soon against Artem and Olena Stoin, who are believed to have fled the country. According to the investigation, both the accused played a significant role in luring people for investment with huge returns.
A case of cheating, criminal conspiracy and criminal breach of trust has been registered against the accused. Several names including Platinum Hern Pvt Ltd, which operates the Torres Jewellers brand, its directors Sarvesh Ashok Surve, Victoria Kovalenko (director), Tausif Riaz alias John Carter (CEO), Tania Kasatova (general manager), and Valentina Kumar (store in-charge) have been included in the FIR.
The investors launched a massive protest outside company's office in Dadar and demanded return of their principal amounts after promised returns ceased.
Initial investigations suggest that the company owner is abroad, and authorities are probing potential links to accomplices and suppliers involved in the fraudulent scheme.