Tamannaah Bhatia, an actor, was questioned by the Enforcement Directorate (ED) in Guwahati on Thursday for a money laundering case involving the ‘HPZ Token’ smartphone application. According to PTI, this program duped investors by claiming to mine Bitcoin and other cryptocurrencies.
The ED said Bhatia, 34, provided her statement in compliance with the Prevention of Money Laundering Act (PMLA) at their zonal office. Reports indicate that she is said to have received payments for a ‘celebrity appearance’ at an event for the app company, but there are no ‘incriminating’ allegations against her. Bhatia had been summoned previously but postponed her appearance due to work commitments, ultimately attending on Thursday, the report said.
The charge sheet filed by the ED in March names 299 entities as accused, including 76 linked to Chinese interests, with 10 directors of Chinese origin and two entities managed by other foreign nationals.
This money laundering investigation stems from a report by the cybercrime unit of Kohima Police, which filed charges against several individuals under various sections of the Indian Penal Code (IPC) and the Information Technology Act. The accused reportedly promised high returns to ‘gullible’ investors through Bitcoin and cryptocurrency mining.
What is the ‘HPZ Token’ app scam?
According to the police, the ‘HPZ Token’ app was used by the perpetrators to defraud investors. The ED revealed that several ‘shell entities’ with ‘dummy directors’ opened bank accounts and merchant IDs to facilitate the ‘layering’ of illicit funds. These funds were allegedly obtained through illegal online gaming, betting, and investments in Bitcoin mining, the report said.
The agency claims that for an investment of Rs 57,000, investors were promised returns of Rs 4,000 daily for three months, but they received payment only once before being asked for more funds. The ED has conducted nationwide searches related to this case, leading to the seizure of assets and deposits totaling Rs 455 crore.
The ED has questioned Tamannaah Bhatia for the second time. Previously, the actress was questioned for her connection in the Mahadev betting app. In April, she was summoned by the Maharashtra Cyber Cell for reportedly marketing Indian Premier League (IPL) games on the FairPlay app, a Mahadev subsidiary.
What is the Mahadev betting app case?
The Mahadev betting app controversy has gained attention, with estimates suggesting it could be worth around Rs 15,000 crore. Reports indicate that the Mahadev app illegally streamed IPL matches without authorization from Viacom18, the official broadcaster of the tournament, leading to substantial financial losses. Actor Tamannaah Bhatia’s association with the FairPlay app, which allegedly cost Viacom Rs 1 crore, has brought her under scrutiny. The Mahadev Betting App case involves more than 38 individuals linked to this major financial scam.
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Source: Business Standard
