CBI charges 30 people, including two Chinese nationals, in ₹1,000 crore cyber scam case

The Central Bureau of Investigation (CBI) has filed a charge sheet against 27 people, including two Chinese nationals and three companies, in the HPZ Token Investment Fraud case.

It is alleged that Shigoo Technology Private Limited, an entity owned and controlled by Chinese nationals, collected hundreds of crores through a mobile application called ‘HPZ Tokens’, over just three months during the COVID-19 lockdown. The application offered huge returns on investments in cryptocurrency mining.

The “syndicate” members set up shell companies, whose bank accounts were used to move over ₹1,000 crore within a few months.