Among them was popular actress Tamannaah Bhatia, who received a notice from the Enforcement Directorate (ED) recently about her alleged connection to a HPZ Token cryptocurrency scam. This multi-crore fraud has rattled a lot of investors, who were given a false promise on returns from Bitcoin mining.
What Is the HPZ Token Cryptocurrency Scam?
One of the biggest frauds that have entrapped investments promising significant returns through Bitcoin mining is the HPZ Token scam. Millions have been swindled in the scam, wherein the masterminds are operating from several fronts, with companies in Hyderabad controlled by Chinese entities. The ED has been scanning all aspects of the scam, tracing the financial flow and individuals involved.
Tamannaah Bhatia’s connection with the case
Although Tamannaah Bhatia has not been accused of any crime, her name surfaced as part of the investigation for payments she received for a celebrity appearance at an event organized by a company connected to the HPZ Token scam. The ED summoned the actress for her role in this context-the financial transactions linked to the event.
Tamannaah was only taken on for strictly promotional activities at the event. However, due to the fraudulent nature of the company behind the event, agencies also questioned her financial role.
ED questioned her in relation to her dealings with the company whether such illegal financial transactions existed.
Clarification of her Role
The ED questioned Tamannaah to ensure clarity on all doubts, that had crept into her transactions with the event planners. Tamannaah’s role in the case is clarified and she has no suspect marks against her. The questioning was part of a full-scale probe to understand how the scam had been structured and had identified all financial transactions that may link back to the fraudulent activities of the HPZ Token case.
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More Details
According to the probe, there was at least one Chinese controlled company operating in Hyderabad which had presented a scheme of fraudulent activities by promising profit with Bitcoin mining. It was alleged that millions were made through this ruse. ED officials said the financial inquiry has so far unraveled vital evidence and several more individuals involved in it would be summoned for questioning.
Tamannaah Bhatia was questioned by the ED as part of an ongoing investigation into the HPZ Token cryptocurrency scam. Even though she is only attributed to a corporate event appearance at the function organised by a company connected with this fraud, the ED clarified her transactions. The probe is still under way and authorities are still unearthing information on this multi-crore scam.
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