Bollywood star Tamannaah Bhatia cryptocurrency fraud has drawn the attention of the Enforcement Directorate (ED) concerning her alleged links to the platform ‘HPZ Token.’ The platform is accused of defrauding investors with promises of high returns through cryptocurrency mining, and the probe is now part of a broader money laundering investigation.
Tamannaah Bhatia’s Involvement in the ‘HPZ Token’ Case
Tamannaah Bhatia was questioned in Guwahati for several hours as part of the investigation. The ED is examining whether her association with an event organized by ‘HPZ Token’ may have inadvertently contributed to the credibility of the platform, which has since been revealed as a scam. According to sources, Bhatia had promoted the platform and received an appearance fee, which is now under scrutiny.
‘HPZ Token’ is accused of defrauding investors by promising significant returns from Bitcoin and other cryptocurrency investments but failing to deliver. The platform lured investors with daily returns of ₹ 4,000 on an initial investment of ₹ 57,000 over three months. Many investors have reported losing their money, as the returns were paid only once before further funds were solicited under false pretenses.
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The case originated from an FIR filed by the Cyber Crime Police Station in Kohima, Nagaland, and has since been transferred to the ED under the Prevention of Money Laundering Act (PMLA). The investigation has revealed a complex network of 299 entities involved in the scam, including 76 Chinese-controlled shell companies. The ED has named ten Chinese nationals and two foreign nationals in its charge sheet.
As part of its investigation, the ED has conducted nationwide searches, seizing immovable assets and bank deposits worth ₹ 455 crore. The probe into ‘HPZ Token’ continues to expand as more victims come forward, claiming to have been scammed by the fraudulent cryptocurrency platform.
Tamannaah Bhatia’s Response and Current Status
While Tamannaah Bhatia has not been formally charged, her involvement in the ‘HPZ Token’ event is still being investigated. The actress had previously postponed her appearance before the ED due to professional commitments but eventually complied with the summons. At this stage, the ED has not found any incriminating evidence against her, but her role in promoting the platform remains under examination.
The ‘HPZ Token’ cryptocurrency fraud case highlights the growing threat of digital scams in India, especially those involving cryptocurrency investments. Tamannaah Bhatia’s links to the platform underscore the dangers of celebrity endorsements in promoting fraudulent schemes. As the investigation unfolds, authorities aim to hold those responsible for the scam accountable and recover the defrauded funds.
