Whistleblower Abhishek Gupta seeks police protection after exposing the Torres Jewellery scam | File Photo
Mumbai: Mumbai-based chartered accountant Abhishek Gupta, 31, who claims to have exposed the multi-crore Torres Jewellery fraud, has approached the Bombay High Court (HC) seeking police protection, citing threats to his life. The jewellery chain is accused of defrauding over 1.25 lakh investors of Rs 1,000 crore across the Mumbai Metropolitan Region.
A division bench of Justices Revati Mohite-Dere and Neela Gokhale, on Friday, directed Gupta to add the Economic Offences Wing (EOW) of the Mumbai police as a respondent to his petition and kept the plea for hearing on January 13.
Gupta, who audited the accounts of Platinum Hern Private Limited — the parent entity behind Torres Jewellery — alleged in his plea that he is a “vulnerable witness” at risk of being eliminated by those involved in the scam. His petition names the company’s directors, including Sarvesh Surve, Taufiq Riaz (alias John Carter), Victoria Kovalenko, Tania Kastova, and Valentina Kumar, as respondents.
Gupta claimed he discovered discrepancies in the company’s accounts and raised concerns with Surve. He alleged that he was later summoned to the company’s corporate office in Lower Parel, where three Ukrainian nationals threatened him and offered a Rs 5 crore bribe to remain silent. When he refused, he reportedly faced multiple threats and attempts at assault by unidentified individuals.
Despite filing complaints with the NM Joshi Marg police station, Gupta alleged that no action was taken. He submitted an audit report detailing irregularities on December 26, 2024, and subsequently alerted the Enforcement Directorate, police, and other agencies.
His plea alleges that Ukrainian nationals were involved in the company’s operations without proper authorisation.
The scam, orchestrated by foreign-based masterminds, promised investors exorbitant returns ranging from 4% to 10% per week and annual profits of up to 520%. The scheme unraveled after investors gathered outside a Torres store in Dadar demanding refunds.
The EOW has taken over the investigation and registered an FIR under the Maharashtra Protection of Depositors Act and other laws. While three directors—Sarvesh Surve, Tania Kastova, and Valentina Kumar—have been arrested, Ukrainian nationals John Carter and Victoria Kovalenko have fled the country. Lookout Circulars (LOCs) have been issued for their arrest.
Torres Jewellery began operations in February 2024, opening showrooms across Mumbai and offering attractive investment schemes that left thousands defrauded.