ED Confirms Arrest Of Wanted Accused Sagar Mehta In ₹177-Crore Torres Fraud Case
Mumbai, August 27, 2026: The Enforcement Directorate (ED) on Thursday confirmed the arrest of wanted accused Sagar Mehta in connection with the Torres fraud case. Mehta’s lawyer approached the court seeking withdrawal of the proclamation proceedings initiated against him at the ED’s request. The court was informed that Mehta had been detained in Dubai following the execution of a Red Corner…
The Enforcement Directorate (ED) confirmed the arrest of Sagar Mehta in connection with the Torres fraud case on August 27, 2026. Mehta's lawyer sought to withdraw the proclamation proceedings initiated against him by the ED. Mehta was detained in Dubai following the execution of a Red Corner Notice issued by the Indian agency. Prosecutors allege Mehta was involved in the scam but fled to Dubai on December 24, 2024.
The ED claims that Platinum Hern Pvt Ltd, operating Torres Jewelry, deceived investors by offering high returns on gold, silver, diamond jewelry, and gemstones, ranging from 2% to 9% weekly. The company provided 20% "investment bonuses" for bringing in new investors, creating a referral system. Sales staff misled customers with seminars, high-return advertising, and lucky draws, promoting synthetic moissanite stones cheaply sold as valuable investments. The ED estimates the proceeds of crime at ₹177.11 crore.
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