The Central Bureau of Investigation, CBI today conducted raids across 30 locations in 10 states and Union Territories as part of investigation into a fraudulent investment scheme linked to the HPZ Token App. The investigation, which involves two private companies and their directors, is regarding misleading the public into investing in a non-existent Cryptocurrency mining scheme. Preliminary findings suggest around 150 bank accounts were used to collect funds from investors, with funds later transferred out of India, often through Cryptocurrency or Hawala transactions. Seized evidence includes mobile phones, computer hard drives, along with SIM cards, ATM/debit cards, email accounts, and various incriminating documents.
Disclaimer: This press release is sourced from News On AIR, Prasar Bharti and Press Information Bureau India (PIB).
