India, Nov. 4 -- A special PMLA court in Mumbai has issued non-bailable warrants against four accused, including a Mumbai resident and three Ukrainian nationals, the alleged masterminds behind the Torres Jewellery fraud in which thousands of small investors from the Mumbai Metropolitan Region (MMR) were defrauded of Rs.177 crore. All four accused are absconding and are believed to have fled the country.

The Enforcement Directorate (ED) submitted that the Mumbai resident, Sagar Paresh Mehta, "fled from India on December 28, 2024, and has not cooperated in the investigation or responded to summons", and that his family told officers he is currently in Dubai.

The agency told the court that the Ukrainian masterminds behind the fraud - Oleks...