India, Aug. 16 -- The Maharashtra government has ordered attachment of properties and assets worth nearly Rs.18 crore linked to the Torres ponzi scam, which duped more than 1 lakh investors by promising unrealistic returns on investments in gemstones and jewellery.

The Torres jewellery brand, which had stores in Mumbai, Thane, Navi Mumbai and Mira Bhayandar, was run by parent company Platinum Hern Pvt Ltd. The assets to be attached belong to the company's chairperson, directors, managers, promoters, employees and other persons allegedly associated with the scheme.

The scam surfaced in late 2024, when payouts stopped and Torres outlets abruptly shut, forcing investors to approach the police. More than ten arrests have been made but the s...