Bollywood actress Tamannaah Bhatia is reportedly under investigation by India’s Enforcement Directorate (ED) for her alleged involvement in promoting the “HPZ Token” platform, which is accused of defrauding investors through cryptocurrency schemes. Authorities are currently probing her possible endorsement of the scam, as well as her alleged promotion of IPL content linked to illegal betting activities. While Bhatia’s involvement is still unclear, the investigation is ongoing.
Bollywood Actress Tamannaah Bhatia Questioned in Cryptocurrency Scam Probe
On Thursday, India’s Enforcement Directorate (ED) reportedly questioned Bollywood star Tamannaah Bhatia in Guwahati regarding her alleged ties to the “HPZ Token,” a crypto currency platform under investigation for defrauding investors through a fraudulent crypto mining scheme. The platform is being probed for money laundering after falsely promising substantial returns on investments in Bitcoin and other cryptocurrencies, which ultimately failed to materialize.
During the questioning, investigators also explored Bhatia’s alleged role in promoting illegal betting content linked to the Indian Premier League (IPL). The investigation revealed that she may have supported live broadcasting of IPL matches through an app tied to the Mahadev online betting platform. The ED is scrutinizing whether her promotions contributed to the illegal activities surrounding the crypto betting app.
Bhatia, aged 34, had previously faced similar interrogations in Maharashtra, where authorities investigated her association with the Fairplay betting app. Fairplay is currently under scrutiny for promoting IPL match viewing in conjunction with illegal betting activities. It is alleged that Bhatia’s endorsement of the app, particularly in relation to IPL content, has raised concerns about her involvement in supporting questionable operations.
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Additionally, investigators are looking into Bhatia’s participation in an HPZ Token promotional event, where she reportedly received an appearance fee. The ED is determining whether her endorsement of the platform helped legitimize the now-controversial crypto venture, which is alleged to have scammed investors. With the investigation intensifying, Bhatia’s connections to both the HPZ Token and illegal betting-linked content are being thoroughly examined as authorities seek to uncover the extent of her involvement.
The HPZ Token case originated with a First Information Report (FIR) filed by the Cyber Crime Police Station in Kohima, Nagaland. This case was subsequently handed over to the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA). The platform allegedly attracted investors by promising daily returns on an initial investment of ₹57,000 ($678). However, many investors reported only receiving payouts once, leading to suspicions of fraudulent activity.
As part of the investigation, the ED has identified a total of 299 entities connected to the case, with 76 of those controlled by Chinese nationals. Although no incriminating evidence has yet been found against Tamannaah Bhatia, her potential involvement in the HPZ Token scheme is still under scrutiny. The ongoing investigation aims to unravel the connections between various entities and determine the extent of the alleged fraudulent in crypto operations.
Authorities are looking into how the HPZ Token platform managed to attract so many investors despite its questionable practices. The investigation is also focused on uncovering any financial networks that may be supporting these operations and whether celebrity endorsements, like Bhatia’s, contributed to the platform’s credibility in the eyes of crypto investors.
With the ED continuing to probe various aspects of the case, including the roles of involved entities, the full impact of the HPZ Token scheme is still unfolding. The outcome of this investigation could lead to significant ramifications for those involved, especially if further evidence is discovered linking Bhatia or other public figures to the fraudulent activities.
moreover, this situation has opened up a wider discussion about the need for stricter regulations in the cryptocurrency market. As scams become more sophisticated, investors are urged to conduct thorough research before making financial commitments. The ED’s investigation could potentially set a precedent for how celebrity endorsements are viewed in the context of financial fraud, leading to calls for clearer guidelines that could protect consumers from similar schemes in the future.
