States » WestPosted at: Jan 22 2025 8:56PM


HC suggests Mumbai police form SIT in Torres Ponzi case

Mumbai, Jan 22 (UNI) The Bombay High Court on Wednesday said that it was open to the police forming a Special Investigation Team (SIT) to probe the alleged Torres Ponzi case involving 1.25 lakh individuals who had invested money and were duped to the tune of more than Rs. 1, 000 crore.
Arguing before the Division bench of Justices Revati Mohite-Dere and Neela K Gokhale, which was hearing a petition related to the scam, the Mumbai police informed the court that eight of the 12 accused involved in the case—seven Ukrainians and one Indian - fled India before December 30.
Observing that there had been a “dereliction of duty” on the part of the police in the case, the court asked them to be “alive to the situation” and said prompt steps were required to avoid investors losing big amounts.
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