According to police, at least seven investors claimed they lost Rs 13.48 crore in a Ponzi scheme, and two directors and three senior executives of a private company based in Dadar were charged Monday with investment fraud.
At the Shivaji Park police station, a case was filed against senior executives of Platinum Hern Pvt Ltd, the business that operates the Torres store.
A complaint from a 31-year-old vegetable vendor named Pradipkumar Vaishya, who had invested in their ponzi scheme, led to the booking of directors Sarvesh Surve and Victoria Kowlenko, CEO Taufiq Riya, also known as John Carter, general manager Tanya Kastova, and store in-charge Valentina Kumar.
