Expanding the scope of investigation in the crypto currency scam, SFIO has reached Dubai’s Tarun Arora, who has been on the run for a year. The matter pertains to an FIR registered in October 2021 by the Cybercrime Unit of Kohima Police in Nagaland against the company and its associated persons under Money Laundering. The probe agency pointed out that “HPZ used to commit fraud on the basis of the app. It lured users with high returns by investing little in bitcoin and other cryptocurrencies.
SFIO is taking action along with ED against app-based token named ‘HPZ’ and some similar entities. As part of the action, the team has raided Delhi, Gurugram, Mumbai, Bengaluru and Salem. Earlier last year too, the Enforcement Directorate (ED) had conducted a search operation in this case and seized around Rs 56 crore.
Significantly, this case pertains to an FIR registered in October 2021 by the Cybercrime Unit of Kohima Police in Nagaland against the company and its associated persons under money laundering. The probe agency pointed out that “HPZ used to commit fraud on the basis of the app. It lured users with high returns by investing little in bitcoin and other cryptocurrencies.
The probe agency also pointed out that the scam involved two entities – Lillian Technocab Pvt Ltd and Shigu Technology Pvt Ltd – duping investors in the name of “HPZ” token. The connection of both the companies with Tarun Arora is coming to the fore, he used to send the cheated money from India to China via Dubai.
Credit: bharat.republicworld.com /