How Hibox app scammed investors of Rs 500 cr with YouTubers' help: Decoded
The app, according to police reports, lured investors with promises of guaranteed returns and resulted in a fraud estimated at Rs 500 crore
PhonePe, Easebuzz under investigation in Rs 500 crore investment scam linked to Hibox app
In addition to these platforms, around 20 other firms are under scrutiny for allegedly laundering money connected to the scam.
PhonePe, Easebuzz Among 20 Firms Probed In Rs 500 Crore Investment Fraud
The Intelligence Fusion and Strategic Operations (IFSO) unit is a specialised team focused on investigating cybercrime in India, working in collaboration with various agencies
Rs 500-cr scam related to investment app unearthed, mastermind held
The police identified the accused as J. Sivaram (30), a resident of Chennai. They believe that he is the main accused involved in a large-scale scam that defrauded over 30,000 people by luring them into investing in the ‘HIBOX’ app.
Chennai man arrested in ₹500-crore HIBOX app scam case
Delhi Police arrests influencers in ₹500 crore app scam; investigating multiple companies involved in money laundering.
PhonePe, others under lens of cyber crime police for ₹500 crore Hibox app scam: Report
This is seen as part of an elaborate scam that reportedly defrauded nearly 30,000 people, who were lured into investing in Hibox mobile app by promising high returns on false assurance of daily interest rate ranging from 1 to 5 percent a day.
Rs 500 cr investment scam: PhonePe, Easebuzz, 20 other firms under probe
Payment aggregator platforms PhonePe and Easebuzz are under investigation by the Delhi Police’s cyber security cell, the Intelligence Fusion and Strategic Operations (IFSO) unit, for suspected negligence in opening merchant accounts linked to a Rs 500 crore investment scam case.
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