Nagaland: ED Files Second Supplementary Charge Sheet in HPZ Token Crypto Scam

The Enforcement Directorate (ED) has filed a second supplementary prosecution complaint in the HPZ Token cryptocurrency investment scam case. The ED alleged that Bhupesh Arora and his associates were behind the scam, which lured investors with false promises of exponential returns through Bitcoin mining machines.

The scam, which commenced in June 2021, left thousands of investors without access to their funds after the platform was shut down in August 2021. The ED has attached or frozen over Rs 662 crore of proceeds of crime in the case so far, out of a total of around Rs 2200 crore.

The second supplementary complaint includes 87 new accused, bringing the total number of accused to 437. Many of the newly added accused are payment gateway companies, fintech intermediaries, e-commerce entities, and their directors spread across multiple states.