There will be inquiry into the 500 crore fraud

The IFSO unit of the Special Cell of Delhi Police has been investigating the Hybox app fraud case for some time. Now the mastermind of this case has been arrested. The arrested accused, identified as J. Shivram, has cheated about 30 thousand people through this Hybox application. Rs 18 crore present in the four bank accounts of the accused has also been seized. The accused used to cheat investors by luring them with guaranteed returns in this application.

151 complaints were received regarding this matter. A fraud of about Rs 500 crore was revealed. The accused had promised to give daily interest ranging from 1 percent to 5 percent on the amount deposited by the investors. Many social media influencers and YouTubers had promoted this app. The police have also issued notices to those YouTubers and influencers.

Investigation into the role of Easebuzz and Phonepe continues

During the investigation, the police also found out that investors' money was transferred to accounts through Easebuzz and Phonepe. The role of these two apps is being investigated in this case because the merchant account of the fraudsters running Hybox was opened virtually without verification process and bypassing RBI rules.

Four bank accounts have also been identified through which fraudulent money was withdrawn. The accused was identified through technical surveillance and J. Shivram was arrested. The investigation also revealed that Rs 18 crore was sent forward through these accounts.

What was revealed in the investigation?

On August 16 this year, the police received 29 complaints regarding this matter. It was alleged in the complaint that YouTubers and social media influencers Saurabh Joshi, Abhishek Malhan, Fukra Insan, Purav Jha, Elvish Yadav, Bharti Singh and her husband Harsh Limbachiya, Lakshay Chaudhary, Adarsh ​​Singh, Amit (Crazy XYZ) and Dilraj Singh Rawat (Indian Hacker) promoted the Hybox app and inspired investors to invest money in this app. This case was registered in the Special Cell on 20 August. During the investigation, it was revealed that a case was already registered against Hybox in the North East district of Cyber ​​Delhi. At the same time, similar fraud was done with 9 people.

These people will be questioned

In this case, notice has been issued to Abhishek Malhan, Fukra Insan, Elvish Yadav, Lakshay Chaudhary and Purav Jha. All of them are going to be questioned. Delhi Police Special Cell IFSO Unit will send a letter to ED to investigate money laundering. Comedian Bharti Singh and Rhea Chakraborty will also be summoned for questioning. Both of them will also be questioned.