Officials confirmed that none of the influencers appeared before the police on the designated day. A senior police officer stated, “A reminder notice will be sent to them again.”
The police have received over 500 complaints from individuals claiming they were lured into investing in the HIBOX mobile application, promoted by these influencers. Launched in February 2024, the app reportedly attracted investments from over 30,000 users.
Deputy Commissioner of Police (IFSO), noted that social media figures such as Saurav Joshi, Bharti Singh, Harsh Limbachiya and others are also under scrutiny for allegedly promoting the app, which was part of a well-orchestrated scam. The police have apprehended the main accused, Sivaram, a 30-year-old from Chennai.
The HIBOX app is accused of promising unrealistic returns of 1 to 5 percent daily, leading to a staggering 30 to 90 percent monthly return, thus enticing users to invest their money.
In addition, the police are investigating the involvement of two payment platforms, Easebuzz and PhonePe. Easebuzz has stated that they proactively blocked the merchant in question back in July 2024, before the official investigation commenced. They also confirmed filing a Suspicious Transaction Report (STR) to the Financial Intelligence Unit, India (FIU) and emphasized their commitment to compliance and cooperation with the authorities.
As the investigation unfolds, the involvement of these influencers in the alleged scam has raised eyebrows, leading to heightened scrutiny in the influencer marketing domain.
