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The Bombay High Court reprimanded the Mumbai Police for the slow pace of investigation in the Torres investment scam. On the petitioner’s demand for security, the court told the police that if you cannot find someone, then do not make someone else a scapegoat. The police should conduct a quick and proper investigation. The court also ordered to provide security to the chartered accountant who claimed to be a whistleblower.
The High Court’s division bench of Justice Revati Mohite Dere and Neela Gokhale asked the Mumbai Police Commissioner to provide security to chartered accountant Abhishek Gupta, who claims to have exposed the scam. So far three accused have been arrested in this case and 11 are absconding, against whom look-out circulars have been issued.
Accused of defrauding hundreds of investors of crores of rupees
The police told the court that it is tracking down the absconding accused. The petitioner is not in any danger. Let us tell you that the company that owns the Torres Jewellery brand is accused of defrauding hundreds of investors of crores of rupees in Ponzi and MLM schemes. Big returns were promised in Ponzi and MLM schemes. However, the payment was not made.
In this case, the police say that so far 3 people including 2 foreign nationals have been arrested. The CA had filed a petition stating that there was a threat to his life from the absconding accused. During the hearing, the court expressed disappointment at how the EOW backed off, due to which the foreign accused managed to escape from India.
Somewhere the police is responsible
The court said that we are surprised at the way the investigation is progressing. Somewhere the police is responsible. The police had a lot of information. The court said that this is a special agency. Collect CCTV footage from the company’s office and the hotels where the accused stayed. The court also asked the Assistant Commissioner of Police of EOW to be present through video conference in the next hearing (January 22).
