Tollywood Actress Questioned by ED in Money Laundering Case

Tollywood actress Tamannaah Bhatia is currently under the scrutiny of the Enforcement Directorate (ED) in connection with a money laundering case. The actress, who is well-known for her work in the Indian film industry, was summoned by the ED for questioning regarding her role in the promotion of a mobile application linked to a financial scam.

The investigation pertains to the HPZ Token app, which reportedly promised lucrative returns on investments. Investors were allegedly told that a sum of ₹57,000 would yield daily returns of ₹4,000, leading to significant financial gains. However, this scheme has turned out to be a scam, with creators using shell companies and multiple bank accounts to commit fraud on a large scale.

The scam, which was initiated in June 2021, attracted numerous investors through promises of high returns on investments and the purported opportunity to invest in Bitcoin and cryptocurrency mining. When the returns initially materialized, confidence among investors grew, leading to an influx of new investments before the scam was exposed.

The ED’s investigation has been accelerated following an FIR lodged at the Cyber Crime Police Station in Kohima, Nagaland. The FIR details the involvement of the HPZ Token app and invokes sections of the Indian Penal Code and the Information Technology Act, accusing those involved of luring innocent investors with false promises.

Tamannaah Bhatia’s connection to the case stems from her participation in promotional events for the app. Although the ED has recorded her statement as part of the inquiry, no criminal charges have been filed against her at this time. Sources related to the investigation have confirmed that the actress was paid for her involvement in promoting the app.

The financial authorities have so far attached assets worth ₹497.20 crores in connection to the scam, and several suspicious financial transactions have been uncovered, involving money laundering practices across numerous shell companies.

As the investigation proceeds, the ED continues to unravel the intricate web of financial deception perpetrated by the creators of the HPZ app, aiming to bring all responsible parties to justice.