Massive Money Laundering Uncovered in Torres Investment Fraud

The Enforcement Directorate and Mumbai Police are investigating a significant money laundering case involving Torres investment. Over 3,700 investors have been duped through Ponzi and MLM schemes, with losses exceeding Rs 57 crore. Key figures in the operation have been arrested, as authorities seek the criminal mastermind.

The Enforcement Directorate has launched extensive searches in connection to the Torres investment fraud case, allegedly duping numerous investors, according to officials.

Raids are underway at 10-12 locations across Mumbai and Jaipur, following a criminal complaint filed under the Prevention of Money Laundering Act, based on a police FIR.

The fraud, exceeding Rs 57 crore, involves over 3,700 investors. It involved Ponzi and MLM schemes by a jewellery firm. Arrests have been made, while investigations continue to uncover the scam's mastermind.

(With inputs from agencies.)