PhonePe and Easebuzz Under Investigation for Alleged Role in Hibox Scam

Payment aggregators PhonePe and Easebuzz are facing investigation by Delhi Police’s cybercrime unit for their alleged involvement in the Hibox scam. This elaborate scheme defrauded thousands of investors, lured by promises of high returns through a mobile app. The investigation has also implicated social media influencers and nearly 20 entities, raising concerns about the role of these platforms in facilitating financial fraud.

Delhi Police Summon Elvish Yadav, Bharti Singh in ₹500 Crore App Scam

The Delhi Police have summoned YouTuber Elvish Yadav, comedian Bharti Singh, and three others in connection with a ₹500 crore app-based scam involving the HIBOX mobile application. The police received over 500 complaints alleging that several influencers and YouTubers promoted the app, promising high returns to investors. Sivaram, a resident of Chennai, has been arrested as the main accused, and ₹18 crore has been seized from his bank accounts. The investigation is ongoing, with authorities probing the roles of EASEBUZZ and PhonePe in facilitating the fraudulent transactions.

Parsvnath Developers CEO Apprehended at Delhi Airport After 60km Pursuit

Sanjeev Jain, the CEO and managing director of Parsvnath Developers, was arrested at Indira Gandhi International Airport after a 60-kilometer pursuit by Delhi Police. Jain had evaded capture earlier when police arrived at his residence on August 3. The arrest stemmed from multiple non-bailable warrants issued by the National Consumer Disputes Redressal Commission due to his failure to appear before the commission regarding a consumer complaint filed in 2017.

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