Archive · 28 Aug 2026
ED Confirms Sagar Mehta Arrest in ₹177-Crore Torres Case
The Enforcement Directorate says it has arrested Sagar Mehta in a fraud investigation.
Mehta was detained in Dubai after an international notice was issued at the agency’s request.
Prosecutors say he was allegedly involved in the Torres investment scheme.
They allege he left the country on December 24, 2024.
The company behind Torres Jewelry allegedly promised investors very high weekly returns.
It also offered bonuses to people who brought in new investors.
The ED says sales staff promoted the scheme through seminars, advertisements and prize draws.
Investigators allege that cheaper synthetic stones were presented as valuable investments, with estimated crime proceeds of ₹177.11 crore.
The Enforcement Directorate confirmed Sagar Mehta’s arrest in the Torres fraud case.
Mehta was detained in Dubai after a Red Corner Notice was executed at the ED’s request.
Prosecutors allege he fled India on December 24, 2024, after involvement in the investment scheme.
Platinum Hern Pvt Ltd allegedly promised weekly returns of 2% to 9% and bonuses for recruiting investors.
The ED estimates the proceeds of crime in the case at ₹177.11 crore.
- Who
- The Enforcement Directorate confirmed the arrest of wanted accused Sagar Mehta; Platinum Hern Pvt Ltd and Torres Jewelry are also central to the allegations.
- What
- Mehta was detained in Dubai in connection with an alleged ₹177.11-crore investment fraud case.
- When
- The ED confirmed the arrest on August 27, 2026; prosecutors say Mehta fled on December 24, 2024.
- Where
- Mehta was detained in Dubai, while the case concerns the company’s operations in India.
- Why
- The ED alleges that investors were misled through promises of high returns, referral bonuses, luxury prizes and allegedly misrepresented synthetic stones.
Enforcement Directorate and Prosecution
Mehta’s Legal Position
Alleged involvement
Enforcement Directorate and Prosecution
The prosecution alleges that Sagar Mehta was involved in the investment scam and fled the country on December 24, 2024.
Mehta’s Legal Position
Mehta’s lawyer approached the court seeking withdrawal of the proclamation proceedings initiated against him; the article does not provide a detailed response to the fraud allegations.
Investment scheme
Enforcement Directorate and Prosecution
The ED alleges that Platinum Hern Pvt Ltd promised high returns, referral bonuses and luxury rewards while marketing synthetic moissanite stones as high-value investments.
Mehta’s Legal Position
No specific defense concerning the investment scheme or the stone-related allegations is reported in the article.
- Agency
- Enforcement Directorate
- Accused
- Sagar Mehta
- Case
- Torres fraud case
- Detention location
- Dubai
- Alleged proceeds of crime
- ₹177.11 crore
- Promised weekly returns
- 2% to 9%
- Company named
- Platinum Hern Pvt Ltd, which operated Torres Jewelry