Besides, EOW has besides arrested alleged hawala operators Alpesh Khara portion bluish country notices person been issued against 8 absconding Ukrainian and a Turkish nationalist (Express Photo)
A time aft the Directorate of Enforcement (ED) conducted searches astatine 13 locations successful Mumbai and Jaipur successful transportation with the wealth laundering lawsuit involving the Torres Ponzi scheme, the bureau connected Friday said that it has seized a fig of incriminating documents, integer evidence, and has besides frozen the slope accounts of Platinum Hern Pvt Ltd (Torres Jewellery) and its associates, amounting to Rs 21.75 crore.
The ED officials said that the enactment was taken nether the provisions of the Prevention of Money Laundering Act, 2002 (PMLA), successful transportation with fraudulent concern schemes operated by Platinum Hern Pvt Ltd nether the marque sanction “Torres Jewellery”.
“The directors, members and managers Platinum Hern Pvt Ltd lured investors with promises of precocious returns ranging from 2% to 9% play connected investments successful gold, silver, diamond jewellery, and gemstones. The schemes besides offered bonuses for recruiting caller investors, creating a referral strategy to pull much victims,” the ED officials said.
“Platinum Hern Pvt Ltd marketed synthetic moissanite stones arsenic high-value investments comparable to diamonds. These stones were sold astatine inflated prices portion misleading investors astir their aboriginal appreciation. The institution organised seminars, advertised connected societal media platforms, and conducted unlicensed fortunate draws to entice customers with luxury rewards, including cars and costly mobile phones,” the property enactment released by the bureau read.
Mumbai police’s Economic Offences Wing has arrested Tazagul Xasatov, a Uzbekistan national, Valentina Ganesh Kumar, a Russian nationalist and Sarvesh Surve, who worked arsenic elder executives successful the steadfast successful transportation with the case.
Besides, EOW has besides arrested alleged hawala operators Alpesh Khara portion bluish country notices person been issued against 8 absconding Ukrainian and a Turkish national.
During the people of its probe, the ED scrutinised aggregate slope accounts of Platinum Hern Pvt Ltd and its associates, that revealed suspicious transactions and links to different entities.
“Payments to these entities are nether probe arsenic it indicates that funds amounting to Rs 13.78 crore were received successful the accounts of Platinum Hern Pvt Ltd from assorted dummy entities linked to 1 Lallan Singh and these funds were utilized to acceptable up concern operations of Torres Jewellery successful Mumbai,” an serviceman said.
The bureau carried retired searches astatine assorted premises successful Mumbai and Jaipur including, the residential premises of Surve astatine Umarkhadi successful Mumbai and the offices of associated entities identified arsenic Gemethyst and Stellar Trading Company successful Jaipur, and Kalbadevi successful Mumbai.
“ED besides searched the residential premises of Lallan Singh, a cardinal associate, successful Mulund and Alpesh Pravinchandra Khara, a suspected hawala relation astatine Opera House, Mumbai, uncovering further grounds related to the fraudulent schemes,” ED officials said.