According to the EOW’s chargesheet, its investigation shows that Khara would transfer some of the fraudulent money to the bank account of K & A Jewellery store owned by him and his wife Kuntal Khara. Later, the money was transferred to accounts held by his son Meet and wife Kuntal. They then transferred the money into a builder’s account to book three flats in the Kherwadi area on S V P Road.

EOW has recorded the statement of the builder from whom the Khara family bought three flats for Rs 1.15 crore. The money was paid to the builder on November 26, 2024, and January 7, 2025. However, as the Khara family did not make complete payment, their flats’ registration could not be done, the builder has stated before the police.

Under the alleged Torres scam, victims were lured into investing money, mostly in cash, in schemes by buying gold, silver, and Mossainite stones and offering weekly interest ranging from 6 to 20 per cent for 52 weeks.

As many as 14,157 investors from across Mumbai and neighbouring districts lost Rs 142 crore between January 2024 and December 2024 to the alleged Torres fraud run by Platinum Hern Pvt Ltd company, which was operated by Ukrainian masterminds.

Operators of the Torres Ponzi scheme allegedly used to take cash from investors to Khara who would send money abroad via USDT Cryptocurrency.

Khara worked for Torres brand

According to EOW’s findings in the chargesheet, Khara worked for Platinum Hern Pvt Ltd-run Torres brand and he even purchased diamonds worth Rs 41 lakh for Torres, which would later be used in luring investors with jewellery to defraud them.

When EOW extracted deleted data from Khara’s mobile phone via a digital forensic lab, the police found evidence establishing that he was in touch with the arrested as well as the wanted foreigners during the commission of the crime. Footage of CCTV cameras installed at Khara’s diamond store also showed that the arrested and wanted accused frequented his store.

On January 6 this year, thousands of investors from Mumbai, Thane, Navi Mumbai, and Mira Road staged protests outside Torres’ jewellery stores in Dadar, Mira Road, and APMC Navi Mumbai. The police of these three cities have registered separate FIRs in the case, and the Shivaji Park police registered the main FIR. Later, the Mumbai police’s EOW took over the investigation. Currently, a court-ordered SIT headed by the Mumbai EOW joint commissioner of police is supervising all three probes.

As many as 11 accused, including eight Ukrainian nationals and a Turkish national, are wanted in the case. A Blue Corner Notice has also been issued against the foreigner accused.