30-year-old Chennai man Sivaram, main suspect in Rs 500 crore HiBox scam, arrested by Delhi Police.

Delhi Police arrested a 30-year-old Chennai man, Sivaram, the main suspect in the HiBox investment scam that defrauded over 30,000 individuals, totaling approximately Rs 500 crore. The HiBox app falsely promised daily returns of 1-5% but ceased payments in July. Police are also investigating payment platforms EaseBuzz and PhonePe for negligence and have summoned several social media influencers linked to promoting the app. The investigation continues.

October 03, 2024
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