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Probe: ‘HPZ Token’ has Chinese loan app links – Times of India


Hyderabad: HPZ Token scam, in which crores of rupees were collected from people allegedly to mine cryptocurrency, has links with Chinese instant loan app fraud, an investigation by Registrar of Companies (RoC), Hyderabad, has revealed. RoC works under the Union ministry of corporate affairs (MCA).
The MCA report, which TOI has access to, stated that the directors of three Chinese firms in Hyderabad failed to attend RoC probe in person, and it has been recommended to issue Look Out Notices (LOC) against the directors of Chinese and Indian origin. MCA, which already lodged FIRs with Hyderabad police, has asked Enforcement Directorate to take up money laundering case against the companies and its promoters.
MCA sources said Lillian Technocab Private Limited and Shigoo Technology Private Limited, registered with RoC, NCT of Delhi, had collected money from investors in the name of ‘HPZ Token’.





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