CBI Conducts Nationwide Searches in Connection with Fraudulent Investment Scheme
CBI Conducts Searches in 10 States and Union Territories in Connection with Fraudulent Investment Scheme
The Central Bureau of Investigation (CBI) has recently carried out searches at 30 locations across 10 states and union territories in India. This action was taken after the agency registered a case in connection with a fraudulent investment scheme linked to the HPZ Token app.
The CBI has alleged that the plan misled the public into investing in the rental of cryptocurrency mining machines. The nationwide campaign, which began earlier, came to an end on Tuesday night with the execution of search warrants at various locations.
Two Private Companies and Their Directors Booked Under Various Sections of the Indian Penal Code
As part of their investigation, the CBI has booked two private companies – Shigu Technology Pvt Ltd and Lillian Technocab Private Limited – along with their directors. They have been charged under sections 120-B (criminal conspiracy), 419, 420 (cheating) of the Indian Penal Code, and section 66D of the Information Technology Act, 2000.
Searches Conducted in Multiple States and Union Territories
During the operation, the CBI carried out searches at various locations in Delhi-NCR, Jodhpur in Rajasthan, Mumbai in Maharashtra, Bengaluru in Karnataka, and Tamil Nadu, Andhra Pradesh, Uttar Pradesh, Bihar, Odisha, and Madhya Pradesh. The agency seized several items, including email accounts, laptops, mobile phones, ATMs, and debit cards.
The CBI’s action is a clear indication of their commitment to investigating and cracking down on fraudulent investment schemes that deceive the public. By conducting searches in multiple states and union territories, the agency aims to gather evidence and bring the perpetrators to justice.
The use of technology in fraudulent schemes has become a growing concern, and it is essential for law enforcement agencies to stay vigilant and take appropriate action. The CBI’s efforts in this case highlight their dedication to combating financial crimes and protecting the interests of the public.
Conclusion
The recent searches conducted by the CBI at 30 locations in 10 states and union territories in connection with a fraudulent investment scheme linked to the HPZ Token app demonstrate the agency’s commitment to combating financial crimes. By booking two private companies and their directors under various sections of the Indian Penal Code and the Information Technology Act, the CBI aims to hold the perpetrators accountable for their actions.
The nationwide campaign, which concluded on Tuesday night, involved the seizure of several items, including email accounts, laptops, mobile phones, ATMs, and debit cards. The searches were conducted in Delhi-NCR, Jodhpur, Mumbai, Bengaluru, Tamil Nadu, Andhra Pradesh, Uttar Pradesh, Bihar, Odisha, and Madhya Pradesh.
The CBI’s efforts in this case serve as a reminder that fraudulent investment schemes can have a significant impact on individuals and the economy as a whole. It is crucial for law enforcement agencies to stay proactive and take necessary measures to protect the public from such scams.
By conducting thorough investigations and bringing the culprits to justice, the CBI plays a vital role in maintaining the integrity of the financial system and safeguarding the interests of the public.
