The Mumbai Police have made a breakthrough in the Torres Company scam, which defrauded hundreds of citizens in Mumbai and Pune of crores of rupees. Mohammad Tausif Riaz, CEO of Torres' parent company, Platinum Hearn Private Limited, was arrested near Pune by the Financial Crimes Investigation Branch. His arrest is believed to uncover key details of the scam. Notably, Riaz was initially believed to be the whistleblower in the case.
Riaz, also known as John Carter, is the fifth person to be arrested in connection with the Torres scam. The Financial Crimes Branch confirmed that Riaz was arrested on Saturday night and brought to Mumbai. He was produced in court on Sunday and has been remanded to police custody until February 3.
Riaz, originally from Patna, Bihar, had been residing in Virar, near Mumbai, for several years. While he initially presented himself as a whistleblower, police investigations revealed his alleged involvement in the scam. Riaz had used a report submitted by the company’s CA, Abhishek Gupta, to highlight malfeasance, but further inquiries led to his arrest.
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