Mumbai's Economic Offences Wing (EOW) has conducted raids at six locations in connection with the multi-crore fraud by Torres Company in Dadar. The raids were carried out at the company’s offices in Dadar, Lower Parel, Opera House, and DB Marg areas, as well as at the residences of two suspects in Colaba and Dombivli. During the operation, the EOW recovered over ₹3 crore in cash and several critical documents from the company's Dadar office and a suspect’s residence in Colaba.
Raids Confirmed by EOW Official
DCP Sangramsinh Nishandar of the EOW confirmed the raids and stated that they were conducted at the residences of the accused Tania Kasatova (Uzbekistan) in Colaba, Valentina Ganesh Kumar (Russia) in Dombivli, and Sarvesh Surve in the Umar Khadi area. Cash was recovered from Kasatova’s residence and the Dadar office of Torres Company, and it was counted using specialized machines.
EOW Investigates Torres’ Instagram Account
Meanwhile, the EOW is closely scrutinizing Torres Company’s Instagram account. Following the exposure of the fraud, the account has been actively posting videos and photos to lure more victims. The EOW, with assistance from the Cyber Cell, is trying to trace the origins of these posts and identify the individuals involved.
Three Bank Accounts Frozen
The EOW has frozen three bank accounts belonging to Torres Company. Efforts are ongoing to freeze additional accounts as the investigation progresses. According to police, the fraud officially amounts to ₹23 crore so far, but initial estimates suggest it could exceed ₹1,000 crore as more victims continue to come forward.
Revelations by Accused Sarvesh Surve
In a letter to the EOW, Sarvesh Surve revealed shocking details about the company’s operations. He stated that Torres Company was established in India on April 7, 2023, with Surve and a Ukrainian national, Olena Stoyan, appointed as directors. The company claimed to operate in the retail jewelry business and promised employment opportunities and foreign visas. However, it started collecting money from the public by promising high bonuses, cashbacks, and returns ranging from 200% to 600%. Instead of delivering genuine jewelry, customers were given low-quality moissanite stones.
Surve further alleged that the company was involved in fake loan transactions amounting to ₹13.76 crore, facilitated by a person named Lallan Singh. These fake transactions reportedly included cash brought to India via USDT (Tether cryptocurrency). On December 27, Surve was allegedly pressured to sign several documents at the company’s Lower Parel office. When he refused to sign loan agreements, he was threatened with being run over by a car.
Additionally, Surve claimed the company illegally imported over 75 kilograms of silver and 25 kilograms of gold from Turkey into India.
EOW Tightens the Noose
As the investigation intensifies, Mumbai Police’s EOW is leaving no stone unturned to uncover the full scale of this multi-crore fraud. More arrests and actions are expected in the coming days.