International Extradition Begins in Multi-Crore Torres Fraud Case

The Enforcement Directorate initiated extradition proceedings against Olena Stoian, a Ukrainian national accused in the Torres fraud case, to Moldova. The ED seeks Stoian's extradition for her alleged involvement in a major money laundering scheme. The case involves misappropriated funds amounting to Rs 177.11 crore.

The Enforcement Directorate (ED) has officially launched the extradition process against Olena Stoian, a key figure in the Torres fraud scheme, approaching a special PMLA court to secure necessary documents. This move aims to bring Stoian from Moldova, where she has been located, back to face charges.

The court responded to the ED's request by providing essential extradition documents. This follows a previous issuance of non-bailable warrants against Stoian and other suspects, marking them for evading arrest linked to significant money laundering activities.

Platinum Hern Private Limited, which operated as Torres Jewellery, allegedly deceived customers by redirecting funds collected from jewelry sales into money laundering channels and converting them into cryptocurrency, with a reported crime value of Rs 177.11 crore.

(With inputs from agencies.)