Torres scam accused, including CEO Tausif Reyaz, initially spent ₹25 crore for setting up stores, purchasing diamonds and giving returns to investors, the investigation by Mumbai Police's Economic Offence Wing (EOW) showed. EOW officials said the accused sent the money collected from investors abroad illegally. The Torres Ponzi scheme reportedly cheated 1.25 lakh investors of over ₹1,000 crore.