More than a year after the arrests in the ₹177 crore Torres ponzi scheme, a key accused has been traced to Moldova, with authorities initiating steps to bring her back to India.

A special court was informed on Monday that Olena Stoian is currently in the East European country of Moldova. The court had issued a non-bailable warrant against her in November 2025.

The Enforcement Directorate moved an application seeking affirmation of documents required to begin extradition proceedings. The paperwork, which must be authenticated by an Indian court before being sent abroad, was verified and handed over to the agency.

The case pertains to the Torres jewellery chain, where customers were allegedly lured with promises of weekly returns of 6–12% on investments in jewellery and precious stones.

Investigations by Mumbai Police and the ED have so far led to the arrest of over 15 persons, including foreign nationals. Officials have said at least 10 key accused fled the country during the probe.

According to the ED, Stoian played a central role in laundering funds through Platinum Hern Pvt. Ltd., the entity associated with Torres stores.

She is alleged to have facilitated illicit capital flows, converted unaccounted cash into legitimate investments, and helped channel funds collected from customers, particularly from the Dadar outlet.

In a related development, another accused, Lurchenko Igor, was earlier traced to Ukraine following an Interpol Blue Corner Notice issued at the request of Mumbai Police’s Economic Offences Wing. Authorities had initiated steps for his extradition as well.