What is HPZ Token app scam in which ED grilled Tamannaah Bhatia for over eight hours? Explained
Tamannaah Bhatia was recently grilled for over eight hours by ED in an HPZ Token app scam case. Here's everything you need to know about the money laundering case that has kept the Assam police on their toes.
On October 17, the Enforcement Directorate (ED) officials grilled Indian actress Tamannaah Bhatia in Guwahati for over eight hours. The actress was questioned in relation to a 'HPZ Token' mobile app scam. This money laundering case came to light when several investors filed complaints of being allegedly duped on the pretext of mining Bitcoins and other cryptocurrencies.
In accordance with the Prevention of Money Laundering Act (PMLA), Tamannaah's statements were recorded at the agency's regional office where she reached around 1.30 p.m. accompanied by her parents. As per an India Today report, this is not the first time she has been called but the actress missed previous summons due to 'job obligations' and finally showed up on Thursday.
An IANS source adds that no 'incriminating' accusations have been made against Bhatia where she allegedly took money in return for a celebrity appearance at an app's event.
What is the HPZ Token mobile app scam case?
In March 2024, ED submitted a chargesheet naming 299 entities as accused which included 76 Chinese-controlled firms, 10 Chinese-origin directors and two entities controlled by other 'foreign persons'. The case came to light after Kohima Police's cybercrime unit filed a formal complaint naming several people involved in defrauding 'gullible' investors by promising them enormous profits.
The investors were cheated using the HPZ Token mobile application. Reports claim that different shell entities with dummy directors opened bank accounts and merchant IDs for layering the proceeds of criminal activity. The funds were then fraudulently obtained for investment in Bitcoin mining as well as unlawful online gambling and betting.
In a nationwide search operation conducted by the ED, immovable assets and deposits worth Rs 455 crore were seized and the case is still under investigation.
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Aditya Sagar is a journalist at Indiatimes, blending his love for entertainment with sprinkles of lifestyle and whatever's catching fire at the moment. With a pulse on Bollywood and an ear to the ground for the latest trends, he steers the world of cinema, style, and viral stories with finesse. Your go-to guide for the glitz, gossip, and everything in between, find him @theadityasagar across all social platforms.
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