HPZ App Based Scam: CBI raids in 10 states, large number of laptops, mobiles, ATM cards recovered
HPZ App-Based Scam: CBI on Tuesday conducted nationwide raids at around 30 locations in 10 states and union territories after registering a case in a fake investment scheme related to HPZ Token App. This action of CBI continued till late at night. However, the agency gave information about it on Wednesday.
The CBI on Tuesday conducted nationwide raids at around 30 locations across 10 states and union territories after registering a case in a fake investment scheme linked to the HPZ Token app. This action of CBI continued till late at night. However, the agency gave information about it on Wednesday. During the raid, the agency recovered laptops, mobiles, ATMs, and debit cards. Also detected a large number of email accounts. The agency alleges that in this scheme people were misled to invest in 'cryptocurrency mining machine rental'.
CBI officials said that two private companies Sheegu Technology Private Limited and Lilian Technocab Private Limited and their directors have been booked under sections 120B (criminal conspiracy), 419, 420 (cheating) of the Indian Penal Code and section 66D of the Sun Technology Act 2000. Has been recorded.
About thirty locations were raided concurrently by the CBI in the states of Tamil Nadu, Andhra Pradesh, Uttar Pradesh, Bihar, Odisha, Madhya Pradesh, Bangalore in Karnataka, Jodhpur in Rajasthan, Mumbai in Maharashtra, and Delhi-NCR. 150 bank accounts that the accused used to obtain money from investors were found during the case's investigation.
Concurrently, the CBI stated on Wednesday that prior to being unlawfully transferred out of India, this money was first used to gain trust. This money was frequently transferred via hawala transactions or converted into cryptocurrencies.
APZ, according to the agency, is an app-based token that offers investors huge returns on their investments in Bitcoin and other cryptocurrency mining equipment.
