The officers of the Enforcement Directorate (ED) have raided HPZ Token and frozen round Rs. 92 crores. The raids have been performed in Gurugram, Mumbai, and Bengaluru on Monday.
The HPZ Token was an App-Based mostly Token that promised customers important positive aspects towards funding by investing in mining machines for Bitcoin and different cryptocurrencies, in accordance with ED.
The moment case was recorded primarily based on FIR registered by Cyber Crime Police Station, Kohima, Nagaland, below numerous sections of IPC towards HPZ token & others. The investigation unearthed bigger conspiracy and involvement of varied entities in cash laundering.
ED Investigation revealed that Lillian Technocab and Shigoo Know-how have been concerned within the operation and amassing cash from buyers within the identify of HPZ tokens. Additional investigation revealed that Bhupesh Arora and his associates had management over Shigoo Know-how Personal Restricted and he was indulged in working unregistered gaming Apps/web sites on this firm and numerous different entities and was amassing cash fraudulently from the gullible public within the garb of those Apps/web site.
In response to ED, in the course of the searches, the full quantity of Rs. 91.6 crore was discovered mendacity in numerous Financial institution accounts/Service provider Accounts maintained with Banks/Fee Gateways of the entities concerned in cash laundering and the identical was frozen. Whole freezing, on this case, is now Rs. 178 Crore.
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