The Economic Offences Wing (EOW) investigating the Torres scam informed the court that the diamonds and stones sold to thousands of investors were fake. They established this during the initial stages of the investigation, while detailed reports on the gold jewellery are still awaited. 

Officials revealed that stones worth Rs 500 to Rs 1000 were sold at exorbitant prices in the guise of high-value gems. Most of the victims, primarily from the lower middle class, were duped using certificates displayed on a website, gra-gems.com, which was allegedly created by Ukrainian scammers. The three accused arrested in the case were produced before the court, and their custody has been extended for further investigation by the EOW.