Bollywood actress Tamannaah Bhatia was interrogated by the Enforcement Directorate (ED) in Guwahati on Thursday night over her alleged connections to the cryptocurrency platform ‘HPZ Token,’ which has been accused of defrauding investors with promises of lucrative returns from cryptocurrency mining. The platform is currently under investigation for money laundering and financial misconduct.
According to sources, the actress, 34, was questioned for several hours regarding her involvement with the digital platform, which is alleged to have lured investors with false promises of high profits from Bitcoin and other cryptocurrencies but failed to deliver. This investigation is part of a larger probe into the ‘HPZ Token’ scam, which has been linked to fraudulent activities and illegal financial schemes.
The interrogation also touched upon Ms. Bhatia’s involvement in promoting illegal streaming of Indian Premier League (IPL) matches through the Fairplay betting app, which is reportedly connected to the Mahadev online gaming and betting platform. The actor had promoted the app, which has come under scrutiny for facilitating illegal betting on IPL matches.
Allegations and Investigation
The ‘HPZ Token’ case originated from an FIR filed by the Cyber Crime Police Station in Kohima, Nagaland. The case was later transferred to the ED for investigation under the Prevention of Money Laundering Act (PMLA). According to allegations, the platform promised daily returns of ₹4,000 on an initial investment of ₹57,000 over three months. However, many investors were only paid once, after which further funds were solicited under false pretenses, leaving several investors defrauded.
Ms. Bhatia’s association with ‘HPZ Token’ has also raised concerns, as she attended an event organized by the platform and received an appearance fee for her participation. Investigators are now examining whether her endorsement of the event may have inadvertently lent credibility to what is now being alleged as a scam.
The ED has named a total of 299 entities in its charge sheet related to the ‘HPZ Token’ case, including 76 Chinese-controlled entities. Among those implicated are 10 directors of Chinese origin and two foreign nationals. These shell companies and their dummy directors were allegedly used to open bank accounts and merchant IDs to layer the proceeds of crime, making it harder for authorities to track the fraudulent money.
As part of the investigation, the ED has carried out nationwide raids, seizing immovable assets and bank deposits worth ₹455 crore. The investigation has unveiled a complex web of money laundering and illegal activities linked to cryptocurrency scams.
No Formal Charges Against Tamannaah Bhatia
At this stage, the ED has not made any formal allegations against Tamannaah Bhatia. Sources close to the investigation suggest that her participation in the ‘HPZ Token’ event is being scrutinized as part of the broader probe. The actress had previously deferred her summons due to professional commitments but chose to appear before the ED on Thursday for questioning.
So far, neither Tamannaah Bhatia nor the ED has issued an official statement regarding the investigation.
Cryptocurrency Fraud and Growing Concerns
The ‘HPZ Token’ scam highlights the growing concerns surrounding cryptocurrency-related fraud in India. Promising high returns through cryptocurrency mining, the platform deceived many investors, leading to significant financial losses. The ED’s investigation has broadened its scope to include international elements, particularly focusing on Chinese-controlled entities involved in the scam.
As the investigation continues, more details are expected to emerge about the extent of the fraudulent activities and the role of various individuals, including public figures like Tamannaah Bhatia.
Sources By Agencies
