Torres Company duped investors by selling fake moissanite stones. Investors were being duped by luring them with 9% bonus and gifts. Around 1.5 lakh investors invested thousands of crores of rupees in six branches. Police arrested Sarvesh Surve from Umarkhadi area in Dongri.
Torres Company had opened six major branches in Mumbai. Customers were being attracted by offering jewellery and gifts in the company’s seminars. It was being lured that if they invested on Sunday, they would get their money back by Thursday. After the Torres Company scam was exposed, a case was registered against Sarvesh Surve.
The price of moissanite stone was only 200-300 rupees, but it was being sold for 6,000-7,000 rupees. The new offer promised cars, mobile phones, and 40-60% bonuses. Torres had a large staff in its branches, which made it seem trustworthy. Customers borrowed money from outside and invested and were cheated.
