Mumbai Torres Jewellery Scam: EOW Finds Multi-Crore Fraud After Internal Management Dispute

Mumbai Police's Economic Offences Wing (EOW) has made a significant revelation in the case of the multi-crore scam by Torres Company, which has affected Mumbai and several other parts of Maharashtra. The investigation has uncovered that the scam came to light due to a major internal dispute between the company's management and employees on January 5, 2025.

According to EOW officials, the heated conflict, centered on financial transactions, initially began as an exchange of emails between the company's board directors. However, the ongoing email disputes did not go unnoticed by the employees, who soon discovered that the company was on the verge of shutting down. They also learned that several top officials from the management had already fled the country.

This revelation led to unrest among employees, who began demanding their pending salaries and the return of investments made by customers at their urging. The tension escalated, prompting the management to call a meeting in the company's conference room, where a fierce altercation broke out between the employees and the management.

Following this dispute, some employees approached the Shivaji Park Police Station and reported the matter. The initial investigation by the police revealed the massive fraud, which has since become the focus of EOW's detailed inquiry.

A senior EOW officer stated, "The internal dispute on January 5 exposed the financial irregularities. Employees realized the severity of the situation when they noticed the management's attempts to evade responsibility and leave the country."

The investigation is ongoing, and authorities are working to bring the culprits to justice while recovering the misappropriated funds.