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Interpol issues blue corner notices in 1,000 crore Torres Jewellery fraud

Jan 22, 2025 10:12 AM IST

Authorities allege that more than 100,000 investors were defrauded of ₹1,000 crore by being lured with promises of weekly returns as high as 6 per cent

Mumbai: Interpol has issued blue corner notices against eight foreign nationals in connection with a multi-crore financial fraud allegedly carried out through Torres Jewellery stores. Authorities allege that more than 100,000 investors were defrauded of 1,000 crore by being lured with promises of weekly returns as high as 6 per cent, along with artificial stones.

The notices were issued for seven Ukrainian nationals and one Turkish national, believed to be key figures in the Torres Jewellery scam.
The notices were issued for seven Ukrainian nationals and one Turkish national, believed to be key figures in the Torres Jewellery scam.

The notices were issued for seven Ukrainian nationals and one Turkish national, believed to be key figures in the Torres Jewellery scam. A blue corner notice is a request to Interpol members to gather information on an individual’s identity, location, or activities as part of a criminal investigation. Once a charge sheet is filed, the issuance of red corner notices may follow.

According to the police, the notices—secured with assistance from the Central Bureau of Investigation (CBI)—have been issued against Olena Stoian, director of Platinum Hern Private Limited, the company that operated Torres; Viktoriia Kovalenko; Mustafa Karakoc, the sole Turkish national; and Ukrainians Oleksandr Borovyk, Oleksandr Zapichenko, Oleksandra Brunkivska, Oleksandra Tredokhib, Artem Oliferchuk, and Lurchenko Igor.

The company operated six stores in the Mumbai Metropolitan Region, with its flagship store in the Dadar area of central Mumbai.

The police have already arrested several key suspects, including the company’s general manager, Taniya Xasatova, also known as Tazagul Karaxanova Xasatova, a citizen of Uzbekistan; Sarvesh Surve, a director; Valentina Ganesh Kumar, a Russian-origin store manager; and Alpesh Khara, alleged to be a hawala operator.

Torres Jewellery began operations in Mumbai in February 2024 and saw a surge in funds during the Christmas season, when it enticed investors with promises of weekly returns as high as 11 per cent.

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