Key Highlights
- During the investigation, it was found that the HPZ Token scam is a large-scale investment fraud in which gullible investors across the country were duped.
- They were fraudulently lured into investing through the HPZ Token App with false promises of high returns.
- The PMLA investigation revealed the use of numerous mule accounts, shell companies, dummy directors, and the misuse of payment aggregator services to launder the proceeds of crime (POC), estimated to be approximately Rs.
- 2,200 crore.
- Funds collected from investors were traced through UPI IDs linked to mule accounts at ICICI Bank.
