CBI Raids 30 Places Nationwide In App-Based Investment Scheme Probe
CBI Raids 30 Places Nationwide in App-Based Investment Scheme Probe.
CBI Raids 30 Places: Explore the CBI’s nationwide search operation in 10 states/UTs, seizing crucial digital evidence related to an app-based fraudulent investment scheme.
Learn about the alleged crypto-currency mining scam and the companies implicated. CBI raided 30 places, and various evidence was recovered; The matter is related to an investment scheme.
The Central Bureau of Investigation (CBI) has conducted a massive nationwide search operation at 30 locations in 10 states/UTs including Delhi, Rajasthan, Uttar Pradesh, Bihar, Madhya Pradesh, Maharashtra, Odisha, Andhra Pradesh, Tamil Nadu and Karnataka.
CBI Raids 30 Places: Let us tell you that the investigation is going on in a case related to a fraudulent investment scheme.
Important digital evidence including mobile phones, computer hard drives, SIM cards, ATM/debit cards, email accounts, and various incriminating documents have been seized in the search.
Officials said the CBI has searched 30 locations across 10 states and union territories after registering a case in a fraudulent investment scheme linked to the HPZ Token App on Wednesday.
The agency has alleged that the scheme misled the public into investing in non-existent crypto-currency mining machine rentals. He said the nationwide operation had ended on Tuesday night.
Officials said two private companies, Shigu Technology Pvt Ltd and Lilian Technocab Pvt Ltd, along with their directors have been booked in the case under sections 120-B (criminal conspiracy) of the Indian Penal Code, 419, 420 (cheating) and section 66D of the Information Technology Act.
A case was registered under u/s,2000. 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 CBI alleged that HPZ is an app-based token that promises users huge profits by investing in mining machines for Bitcoin and other cryptocurrencies.
The fraudsters allegedly used a methodology that lured victims into investing in the HPZ Token app under the pretext of huge returns on their investment in Bitcoin mining.
The investigation into the case so far has revealed 150 bank accounts belonging to the accused that were used to collect money from investors.
The CBI said in a statement on Wednesday that these funds were initially used for payments to create trusts, before being illegally transferred out of India, often converted into cryptocurrencies or through hawala transactions.
