The CBI has filed a charge sheet against two Chinese nationals who were allegedly the masterminds of the HPZ Token Investment Fraud case in which over Rs 1000 crore were siphoned off through shell companies during Covid, officials said Wednesday.
The CBI has alleged that Shigoo Technology Pvt. Ltd., owned and controlled by Chinese, allegedly cheated the public during the Covid lockdown using a fake mobile application titled “HPZ Tokens”, claiming that investments would be used for cryptocurrency mining and would yield very high returns.
CBI’s investigation found that this was not an isolated incident but part of a large, well-coordinated cyber crime network operated by foreign nationals. This syndicate was responsible for several cyber scams targeting Indian citizens in post Covid period using loan apps, fake investment apps and platforms offering bogus online job offers.
Wan Jun and Li Anming had come to India to set up the company and infrastructure following which they left the country and operated the company remotely from abroad, the officials said.
Both never joined the investigation and remained fugitives, they said.