What is moissanite, the stone at centre of Torres scam that cheated 1.25 lakh investors?
The Torres Ponzi scheme, disguised as luxury jewellery business, cheated around 1.25 lakh investors after its abrupt collapse in December 2024. Among other things, the company had promised 520% returns annually on moissanite purchases. Moissanite is a rare, synthetic gemstone made of silicon carbide that's often used as an alternative to diamonds. It was originally found in a meteorite.