In a significant development in the ongoing investigation into the ₹500 crore HiBox mobile app scam, actress Rhea Chakraborty, comedian Bharti Singh, and popular YouTuber Elvish Yadav have been summoned for questioning. The HiBox app, which was launched in February 2024, reportedly deceived over 30,000 individuals by promising high investment returns.
The inquiry was initiated after the Delhi Police received more than 500 complaints from victims who alleged they were enticed to invest in the app after viewing promotional content featuring various social media influencers. Deputy Commissioner of Police (IFSO) Hemant Tiwari confirmed that the app guaranteed daily returns of one to five percent, accumulating to an extraordinary 30 to 90 percent monthly.
How the HiBox Scam Operated
The HiBox app initially paid out the promised returns until June 2024. However, following that period, it began to withhold payments and withdrawals, attributing the delays to technical glitches, GST complications, and legal issues. The main suspect in this scam, identified as 30-year-old Sivaram from Chennai, has already been arrested.
Influencers Under Investigation
The investigation has widened to include several social media influencers who promoted the HiBox app, including Chakraborty, YouTubers Saurav Joshi, Abhishek Malhan, Purav Jha, and many others. These influencers are now under scrutiny for their potential involvement in what authorities describe as a meticulously orchestrated scam.
The police are also examining the role of two payment platforms—Easebuzz and PhonePe—in this case. Authorities have indicated that these platforms may not have complied with guidelines set by the Reserve Bank of India (RBI). Easebuzz has stated that it proactively blocked the merchant associated with HiBox prior to the investigation in July 2024.
As the investigation unfolds, many are left questioning the influence of social media personalities in financial matters and the implications of their endorsements on public trust.
Sources By Agencies
