The Enforcement Directorate (ED) conducted raids at 13 locations in Mumbai and Jaipur under the Prevention of Money Laundering Act (PMLA) in connection with fraudulent investment schemes by Platinum Hern Pvt Ltd that ran Torres Jewellery. The company allegedly lured investors with promises of two to nine per cent weekly returns on investments in jewellery and gemstones, while misleading them with inflated prices and false appreciation claims. Incriminating documents, digital evidence, and suspicious transactions involving 13.78 crore rupees were uncovered, leading to the freezing of 21.75 crore rupees in associated bank accounts. Key accused include Sarvesh Surve, Victoria Kovalenko, Taufiq Riyaz alias John Carter, and others. Raids targeted the company’s offices, and residential premises of directors, and associates, revealing further links to hawala operators and dummy entities. Further investigations are underway.