NEW DELHI: In a significant development, the Enforcement Directorate (ED) has announced the attachment of assets exceeding Rs 278 crore, including those tied to China, as part of a money-laundering probe related to the alleged cheating of investors through the “HPZ Token” app. The ED had previously attached properties worth Rs 176.67 crore in connection with this case.
The investigation stems from a first information report (FIR) filed in 2021 by the Cyber Crime police station in Nagaland’s capital, Kohima. The FIR alleged that investors were deceived with false promises of substantial returns on bitcoin investments through the “HPZ Token” app.
The fraudsters reportedly lured victims into investing in the company, claiming a doubling of their investment through the “HPZ Token” app. Investments were also allegedly received for online gaming and betting. The ED stated, “For an investment of Rs 57,000, returns of Rs 4,000 per day for three months were promised but money was paid only once, and thereafter, fresh funds were sought.”
The ED’s action follows searches conducted at 26 locations in 2022 and 18 locations in 2023. In a letter dated December 12, 2023, the Delhi forest department sought clarification from the MoEFCC inspector general of forests regarding the status of deemed forests in the capital.
The department expressed concern over the loss of tree density in certain areas marked as deemed forests, seeking guidance on whether these areas still qualify as forests. The move comes after the Forest (Conservation) Amendment Act, 2023, excluded unrecorded “deemed forests” from its scope.
