Rhea Chakraborty, Elvish Yadav Summoned in ₹500 Crore Scam
By MYBRANDBOOK
Actor Rhea Chakraborty, comedian Bharti Singh, and YouTuber Elvish Yadav are among the high-profile figures being questioned as part of an investigation into the HiBox mobile app scam. This app allegedly lured thousands of users with promises of high investment returns, ultimately leading to significant financial losses.
In connection with the ₹500 crore scam, several other social media influencers have also been summoned for questioning. The probe focuses on the role these personalities may have played in promoting the app and attracting users to invest.
The HiBox mobile app, launched in February 2024, quickly attracted over 30,000 investors by promising guaranteed returns of 1% to 5% daily, leading to monthly returns of 30% to 90%. This enticing proposition lured many individuals, particularly those influenced by social media endorsements.
The investigation into the HiBox mobile app scam was triggered after the Delhi Police received more than 500 complaints from individuals who claimed they were misled into investing money in the app. Many of these complaints indicate that victims were influenced by promotional videos featuring their favorite social media influencers or YouTubers.
As the inquiry unfolds, authorities are scrutinizing the role of these influencers in the app's marketing and whether they contributed to the widespread deception. The case underscores the potential dangers of celebrity endorsements in investment schemes, particularly when they promise unrealistic returns.
HiBox launched, successfully drawing in a large user base with attractive investment promises. The app initially paid out the promised returns, building trust among investors.
Investors began experiencing issues as the app started withholding payments and withdrawals. Users were informed of various purported problems, including technical glitches, GST-related issues, and legal complications.
Main Accused: Sivaram, a 30-year-old resident of Chennai, has been arrested by the police for his role in orchestrating the scam. Authorities are intensifying their efforts to uncover the extent of the scam and hold accountable those involved in misleading the public.
BREAKING NEWS
TECHNO TRENDS
Microsoft set to unveil Xbox handheld console, new Xbox series
Insiders suggest the device will feature a hybrid system, combining Xbox OS...
Market Selloff Deepens as Recession Fears Grip Wall Street
Wall Street suffered a sharp decline as escalating trade tensions and reces...
Western Digital Exits SSD and NAND Business to Prioritize HDD
SanDisk, which has long been responsible for Western Digital’s SSD segmen...
ServiceNow to strengthen its AI portfolio with Moveworks acqui
This acquisition boosts ServiceNow’s AI capabilities, reinforcing its str...
E-Magazine
TECHNOTAINMENT
Is Virender Sehwag seeking a divorce from his wife Aarti Ahlaw
Virender Sehwag is one of the most popular cricketers in India. Known for
Cricketer Shubman Gill to be summoned in Rs 450 cr Ponzi scam
Leading Indian cricketer Shubman Gill is among four Gujarat Titans player
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
Alcatel-Lucent Enterprise Carrying a 100 year legacy ahead
A good amount of R&D works and global support services are operated out of
Bolstering its commitment to help build a truly self-reliant B
CP PLUS is dedicated to spreading a sense of security to every corner of In
HOT PICK
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
BOULT unveils AmpVault V10 & V20 powerbanks: Fast charging, sa
BOULT, India’s No 1 Rated Audio brand is proud to announce the launch of
MAKE IN INDIA BRANDS
HP INDIA SALES PVT. LTD.
DATA SAFEGUARD INDIA PRIVATE LIMITED
TAC SECURITY SOLUTIONS
VERSA NETWORKS INDIA PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : CP Gurnani
Former Managing Director and CEO of the well-known IT service company ...
Icons Of India : MADHABI PURI BUCH
Madhabi Puri Buch is the first-female chairperson of India’s markets...
ICONS OF INDIA : ROSHNI NADAR MALHOTRA
Roshni Nadar Malhotra is the Chairperson of HCLTech, a leading global ...
PARTNER SPEAKERS
PSU
BSE - Bombay Stock Exchange
The Bombay Stock Exchange (BSE) is one of India’s largest and oldest...
HPCL - Hindustan Petroleum Corporation Ltd.
HPCL is an integrated oil and gas company involved in refining, market...
NSE - National Stock Exchange
NSE is the leading stock exchange in India....
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - REVATHI ADVAITHI, CEO- Flex
Revathi Advaithi, the CEO of Flex, is a dynamic leader driving growth ...
Indian Tech Talent Excelling The Tech World - NEAL MOHAN, CEO - Youtube
Neal Mohan, the CEO of YouTube, has a bold vision for the platform’s...
Indian Tech Talent Excelling The Tech World - George Kurian, CEO, Netapp
George Kurian, the CEO of global data storage and management services ...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
