look news india
The central probe agency has launched a nationwide investigation at 30 locations in 10 states and union territories, including Delhi, Rajasthan, UP, Bihar, Madhya Pradesh, Maharashtra, Odisha, Andhra Pradesh and Tamil Nadu and Karnataka.
What do the officers say?
The important thing is that the case related to app based fraudulent investment scheme is under investigation. Important digital evidence including mobile phones, computer hard drives, SIM cards, ATM/debit cards, email accounts and various criminal documents have been seized in the search. The CBI has searched 30 locations in 10 states and union territories after registering a case in a fraudulent investment scheme related to the HPZ token app, officials said on Wednesday.
What is the allegation?
The agency alleged that the scheme misled people into investing in non-existent crypto-currency mining machine rentals. He said the nationwide campaign ended on Tuesday night. Two private companies, Shigu Technology Pvt Ltd and Lilian Technocab Pvt Ltd and their directors have been booked under sections 120-B (criminal conspiracy), 419, 420 (cheating) of the Indian Penal Code and section 66D of the Information Technology Act, 2000. it was done. officials said
What is HPZ App?
HPZ is an app-based token. Which promises users huge profits by investing in mining machines for Bitcoin and other crypto-currencies, the fraudsters allegedly used a method that lured victims into HPZ under the guise of huge returns on their investment in Bitcoin mining. Lured to invest in token app.
Which action?
The CBI has seized a large number of email accounts and digital devices besides laptops, mobile phones, ATMs and debit cards in Delhi-NCR, Jodhpur, Mumbai, Bengaluru, Tamil Nadu, Andhra Pradesh, Uttar Pradesh, Bihar, Odisha and Madhya Pradesh. The investigation into the case so far has revealed 150 bank accounts of the accused which were used to collect money from investors.
What is the use of the collected money?
The CBI said in a statement on Wednesday that the funds were initially used to create trusts, which were illegally transferred outside India, often in cryptocurrencies or through hawala transactions.
