MUMBAI, June 10 -- A special MPID court on Monday allowed the Economic Offences Wing (EOW) to sell the moissanite stones, gold and silver jewellery seized in connection with the alleged Ponzi fraud perpetuated through the Torres Jewellery stores. Thousands of investors from the Mumbai Metropolitan Region lost crores of rupees in the scam. The court passed the order in response to a plea moved by the EOW to sell the seized metals. The court directed the EOW officials to finish a valuation report for the metals and the moissanite stones before selling them according to the value stated in the report. The court directed the proceeds to be deposited in a newly created bank account. The Torres fraud surfaced on January 6 this year after thousands of investors began protesting outside various stores under the Torres Jewellery brand in and around Mumbai, after being cheated of returns on their investments. These investors had been lured to invest in schemes that promised unbelievable weekly returns on the purchase of gold jewellery and moissanite stones. During the investigation, it was found that the accused were operating the company without a valid license from the Reserve Bank of India (RBI), and the company was involved in money laundering activities. The holding firm, Platinum Hern Pvt Ltd, cheated investors by promising them high returns and instead purchased properties using their money. Special judge NP Mehta said, "Joint CP, EOW, Mumbai shall oversee the sale of above said valuable property and accord sanction as per rules and report compliance." It also ordered the officials to conduct a video recording of the proceedings to be part of the chargesheet. Currently, the court is hearing the bail pleas of several accused. The EOW till date has arrested six persons from Mumbai in connection with the case. The EOW has also issued Lookout Circulars and Blue Corner Notices for the absconding accused....