Torres Jewellery Scam: Mumbai Police Makes 6Th Arrest, Nabs Ukrainian Actor Armen Ataine

(MENAFN- Live Mint) Torres Jewellery scam: Mumbai police on Tuesday arrested a Ukrainian actor, Armen Ataine, in connection with the multi-crore Torres jewellery scam. An Economic Offences Wing (EOW) official said Armen Ataine is accused of assisting the alleged Ukrainian masterminds involved in the case, as reported by the news agency PTI.

Hundreds of people were cheated in the Torres Jewellery scam after they were promised high investment returns.

“Ataine was apprehended on Tuesday from Malvani, a western suburb, after his role in the case came to light,” PTI quoted an official as saying. With the arrest of the latest suspect, the total number of people apprehended in the case stands at six. This comes three days after EOW arrested the absconding accused and self-proclaimed 'whistleblower,' Tausef Reyaz, who is Platinum Hern CEO, the newspaper Mid-Day reported.

Also Read | Mumbai's Torres scam has Ukrainian ties, a Ponzi scheme and crores of investment

According to officials, the Ukrainian actor acted as the prime link between the Ukrainians and Indians, introducing the former to the latter. Notably, Armen Ataine participated in the first two important meetings for opening Torres stores in Mumbai. He reportedly played a key role in conducting all the meetings.

Armen Ataine, in collaboration with another Ukrainian national , played an instrumental role in conspiring to lure investors for attractive returns. The jewellery company used a combination of Ponzi and multi-level marketing (MLM) schemes to defraud investors of crores of rupees. Thousands of investors were duped over ₹57 crore rupees after they invested in these schemes.

Also Read | Mumbai Torres Jewellery Scam: All you need to know about multi-crore fraud

Other three idividuals who have been detained in the case include south Mumbai resident Sarvesh Ashok Surve (30); an Uzbek national Tania alias Tazagul Karaxanovna Xasatova (52); and a Russian national Valentina Ganesh Kumar (44).

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