YouTubers Elvis Yadav, Bharti Singh summoned over alleged scam involving HIBOX app

The Delhi Police has summoned YouTuber Elvish Yadav, comedian Bharti Singh, and three other social media influencers in connection with an alleged scam involving the HIBOX mobile application. The app, part of a well-planned scam, has reportedly lured investors with promises of guaranteed returns and resulted in a fraud estimated at Rs 500 crore. The 500 complaints that were filed with Delhi Police accused various influencers and YouTubers of promoting HIBOX on their platforms.

“HIBOX is a mobile application that was part of a well-planned scam,” Deputy Commissioner of Police (IFSO Special Cell) Hemant Tiwari explained.

Police reports reveal that Sivaram, a 30-year-old resident of Chennai and the alleged mastermind, promised investors substantial monthly returns through the app, which was launched in February 2024. The platform initially delivered high returns, encouraging more people to invest.

However, since July, HIBOX allegedly began withholding payments, citing various issues such as technical glitches, legal troubles, and GST complications.

According to DCP Tiwari, the alleged companies behind HIBOX shut down their Noida office in Uttar Pradesh before disappearing.

Investigations also indicate potential negligence from payment gateway companies EASEBUZZ and PhonePe, as these platforms were used to facilitate transactions for HIBOX. “To date, 127 complaints have been consolidated, and the roles of EASEBUZZ and PhonePe are under scrutiny,” DCP Tiwari stated. The police suspect that these companies might have bypassed proper verification procedures and ignored Reserve Bank of India guidelines while setting up merchant accounts for the HIBOX operators.