Delhi Police have uncovered the involvement of multiple social media influencers, including comedian Bharti Singh and YouTuber Elvish Yadav, in the promotion of the “Hibox” app, which was allegedly used to execute a massive Rs500 crore investment scam. Over 30,000 individuals have reportedly fallen victim to the fraud.
The Special Cell’s Intelligence Fusion and Strategic Operations (IFSO) unit arrested the main accused, J Sivaram (30), director of Hibox’s parent company, Sutrulla Express Private Limited. Investigations revealed that the company’s accounts were used to siphon off the defrauded money.
Notices were issued to 10 influencers, including Bharti Singh, Elvish Yadav, Saurav Joshi, Abhishek Malhan (Fukra Insaan), Purav Jha, Harsh Limbachiya, Lakshay Choudhary, Adarsh Singh, Amit (Crazy XYZ), and Dilraj Singh Rawat (Indian Hacker), for allegedly influencing people to invest in the fraudulent app. Their promotional content lured people into believing they could make high profits through the app.
According to police, five of these influencers, including Elvish Yadav and Bharti Singh, have been summoned for questioning regarding their deals with the app and how much they were paid for brand endorsements.
The Hibox app, launched in February 2024, initially offered lucrative returns, with promises of 1% daily and 30% monthly profits. However, by July 2024, payments to investors ceased, with the company citing technical glitches and legal issues. Investigations into the app’s international connections and the role of payment gateways like PhonePe and Easebuzz are ongoing.
Sutrulla Express was founded by Sivaram in 2016, and he allegedly developed the Indian version of Hibox with the help of two Vietnamese individuals. The investigation continues as police probe further into the scam’s reach.