CBI conducts nationwide searches in HPZ Token App fraud case
The HPZ Token App faud case attracted fradulent investment in non-existent crypto-currency mining machine rentals
_20240502112957original_image_48.webp)
New Delhi, May 2
The Central Bureau of Investigation (CBI) searched 30 locations across 10 states and UTs in the HPZ Token App faud case that attracted fradulent investment in non-existent crypto-currency mining machine rentals.
The CBI informed that two private companies, Shigoo Technology Private Limited and Lillian Technocab Private Limited, along with their directors were booked in the case under IPC sections 120B (criminal conspiracy) 419, 420 (cheating) and Section 66 D of the IT Act, 2000.
The CBI has seized digital devices, including laptops, phones, ATM cards and a trove of email accounts, during searches spread across the country.
The probe so far has unearthed 150 bank accounts related to the accused used to collect funds from investors. These funds were initially used for payouts to build trust, before being illicitly transferred out of India, often converted into cryptocurrency, officials informed.
