The Enforcement Directorate (ED) has registered an ECIR under relevant sections of the Prevention of Money Laundering Act (PMLA) in connection with the Torres Ponzi scheme case. It is alleged that large-scale financial fraud took place in this case, where the accused duped lower-middle-class investors by promising high returns.

According to sources, the ED’s case is based on an FIR registered by the Shivaji Park Police in Mumbai. The complainant, a vegetable vendor, claimed that approximately 1.25 lakh investors had invested in Torres. Given the seriousness of the matter, the case was later transferred to the Economic Offences Wing (EOW) for further investigation. The EOW has so far 2000 complainants who have invested with Torres.