On Thursday (17th October), the Enforcement Directorate (ED) questioned Bollywood actress Tamannaah Bhatia. She was summoned in connection with a money laundering case related to an HPZ Token App. It is alleged that she received money for attending events associated with the HPZ app and promoting it as part of her celebrity appearances.
On Thursday, the Bollywood actress, who was accompanied by her mother, appeared before the ED officials in Guwahati. However, her mother was asked to wait outside when the probing agency officials posed questions to the Bollywood actress.
The case diary
The case pertains to the allegations of a massive fraud worth crores of rupees. The scammers promised that if people invested ₹57,000 in the HPZ Token App, they would get a return of ₹4,000 per day. Incidentally, to gain people’s trust, they made payments to the investors for a brief period. However, the payment stopped and the app was taken down from the server.
Investigation so far has revealed that shell companies were used to open multiple bank accounts that siphoned off money through the app and they were engaging in large-scale money laundering. So far, the financial probing agency has seized assets worth ₹497 crore in this case.
As per reports, the app operators funneled people’s hard-earned money in Bitcoin and cryptocurrency and were linked to another notorious platform—the Mahadev Betting App, that is, the HPZ Token App’s operations are closely connected to the Mahadev Betting App which is also under the agency’s scanner.
The Cyber Crime Police Station in Kohima, Nagaland filed an FIR in this case under various sections of the Indian Penal Code (IPC) and the Information Technology (IT) Act. The FIR has accused the owners of the HPZ Token App of defrauding investors with false promises of massive returns by investing in Bitcoin and other cryptocurrencies. Based on this FIR, the ED launched its investigation, implicating 299 individuals and entities.
Additionally, Tamannaah Bhatia is also being investigated for her involvement in the FairPlay app, which has been accused of illegal IPL streaming. Viacom Network had filed a complaint against the app for IPR violations, claiming losses of over ₹100 crore due to unauthorized IPL broadcasts on FairPlay.
Apart from Tamannaah, the ED has questioned Jacqueline Fernandez, singer Badshah, and other celebrities.
Connection to the Mahadev Betting App
As per reports, the money from the HPZ app was funneled into the Mahadev Betting App, which also happens to be the parent company of the FairPlay app. Both apps are linked to the same entity. It is alleged that around ₹15,000 crore has been laundered through the Mahadev Betting App.
The Mahadev App allowed online betting on various live games, including cricket, tennis, badminton, and poker with users consistently losing money in this app.
Saurabh Chandrakar and Ravi Uppal, the app’s principal promoters, operated it through a company based in Dubai.
The police have filed FIRs against more than 30 individuals related to the Mahadev App, and properties worth ₹1,296.05 crore have been seized in connection with the case.
