Actor Tamannaah Bhatia Questioned Over Cryptocurrency Fraud Allegations

So far, neither the ED nor Ms Bhatia has issued any formal statements.

Guwahati:

Bollywood actor Tamannaah Bhatia was questioned by probe agency Enforcement Directorate (ED) in Guwahati on Thursday night over alleged links to a digital platform named ‘HPZ Token’, which is accused of defrauding investors by promising lucrative returns through cryptocurrency mining.

‘HPZ Token’ has been at the centre of a larger investigation involving money laundering and financial misconduct, as the platform allegedly promised investors significant profits from Bitcoin and other cryptocurrency investments but failed to deliver on these promises.

The interrogation lasted for several hours and was also connected to allegations of promoting illegal streaming of Indian Premier League (IPL) matches via a controversial app linked to the Mahadev online gaming and betting platform.

According to sources, Ms Bhatia, 34, who had been previously questioned in Maharashtra in connection with a similar probe, was questioned over her association with the Fairplay betting app. The actor had promoted IPL match viewing on the platform, which is under scrutiny for illegal betting activities.

The case against ‘HPZ Token’ originated from an FIR filed by the Cyber Crime Police Station in Kohima, Nagaland. This FIR has since been transferred to the ED for investigation under the Prevention of Money Laundering Act (PMLA). According to the allegations, ‘HPZ Token’ lured investors with the promise of returns from cryptocurrency mining machines, but many investors have reported that they were scammed out of their money.

Sources further added that Ms Bhatia had attended an event organized by ‘HPZ Token’ and received an appearance fee for her participation. Investigators are now probing whether her endorsement of the platform might have inadvertently lent credibility to what is now being alleged as a scam.

So far, neither the ED nor Ms Bhatia has issued any formal statements regarding the case. 

According to sources, the app was used to defraud investors by luring them with the promise of daily returns of Rs 4,000 on an initial investment of Rs 57,000 over three months. However, investors were reportedly paid only once, after which fresh funds were solicited under false pretences.

The ED has named a total of 299 entities, including 76 Chinese-controlled entities, in its charge sheet related to the ‘HPZ Token’ scam. Ten directors of these entities are of Chinese origin, while two are foreign nationals. These shell entities, along with their “dummy” directors, were allegedly used to open bank accounts and merchant IDs to “layer” the proceeds of crime.

As part of its investigation, the ED has conducted nationwide searches, resulting in the seizure of immovable assets and bank deposits worth Rs 455 crore. 

While the ED maintains that there are no “incriminating” charges against Ms Bhatia at this stage, her connection to the ‘HPZ Token’ event remains under investigation. The actress had previously deferred her summons due to professional commitments but chose to appear before the ED on Thursday.