Overview

• On October 3, the CBI conducted coordinated searches at seven locations across Delhi-NCR, Hyderabad and Bengaluru under Operation Chakra-V.
• Officials seized incriminating digital evidence and financial records during the raids.
• The scheme allegedly relied on the 'HPZ Token' app, shell companies, merchant IDs and mule bank accounts to draw victim funds between 2021 and 2023.
• Proceeds were consolidated, converted into cryptocurrency, layered through multiple wallets and sent overseas, according to the CBI.
• The Enforcement Directorate has attached about Rs 603.4 crore in assets in the case, and a Dimapur court declared Dubai-based Bhupesh Arora a Fugitive Economic Offender.