New Delhi: The Central Bureau of Investigation (CBI) launched a nationwide search operation covering 30 locations across nine states and one Union Territory (UT) in connection with fraudulent investment schemes facilitated by App-based platforms.
The CBI launched investigation under sections of the IPC and the Information Technology Act, 2000 against two private companies – Shigoo Technology Private Limited and Lillian Technocab Private Limited – along with their Directors. Allegations were that their involvement in a fraudulent investment scheme connected to the HPZ Token App.
“The scheme misled the public into investing in non-existent cryptocurrency mining machine rentals. The HPZ Token App, promising significant returns on investments in Bitcoin mining, lured victims into investing,” an official said
Investigation findings indicate approximately 150 bank accounts linked to the accused were utilized to gather funds from investors. These funds, allegedly used initially for payouts to instill trust, were subsequently illicitly transferred out of India, often converted into cryptocurrency or routed through Hawala transactions.
The raids were conducted in Delhi NCR, Uttar Pradesh, Madhya Pradesh, Rajasthan, Maharashtra, Karnataka, Tamil Nadu, Odisha, Andhra Pradesh, and Bihar.
Explaining the significance of the raids, an officer said that the searches resulted in the seizure of substantial digital evidence, including mobile phones, SIM cards, computer hard drives, ATM/Debit cards, email accounts, and various incriminating documents, these documents will play a major role in the ongoing investigation to dismantle the fraudulent scheme and gather evidence against the accused.
