Tuesday, April 21, 2026

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Tag: Ponzi Scam

Ukrainian Woman Found to Be Key Figure in Mumbai’s Large-Scale Ponzi Scheme, Police Probe Underway

Mumbai: The Economic Offences Wing (EOW) of Mumbai Police has uncovered that a woman, Olena Stoin, alongside her partner Artem Stoin, both Ukrainian nationals, are behind the massive Ponzi scam that has left hundreds of investors duped. The scam, linked to the Torres jewellery chain, promised high returns on investments in gemstones, gold, and silver but led to huge losses when the company shut its stores.

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