Bollywood Influencer Becomes Target of Crypto Ponzi Scheme Probe
BeInCrypto
18 Sep 2023 5:07 PM
Govinda, an Indian actor, faces tough questions after appearing in ads as an influencer endorsing a crypto ponzi scheme....
- Bollywood actor Govinda is under investigation by the Odisha Economic Offenses Wing for his role as a promoter for Solar Techno Alliance, a crypto ponzi scheme.
- Govinda appeared in ads for the scheme, which aimed to attract investments in its crypto investment platform.
- The scheme brought in over $320 million from more than 10,000 people across India.
- Police have made arrests in connection with the scheme and are questioning Govinda to determine the extent of his involvement.
- Govinda's manager denies any ties between the actor and the scam, raising questions about the liability of influencers for the products they endorse.
- Some countries, like France, have implemented regulations for influencers promoting financial products.
The article portrays Govinda in a negative light, suggesting his involvement in a crypto ponzi scheme. It also raises questions about the responsibility of influencers and the need for regulations in the industry.
You May Ask
What is Govinda's role in the Solar Techno Alliance crypto ponzi scheme?How much money did the scheme bring in and how many people invested?Are there any other individuals involved in the scheme who have been arrested?What are the potential consequences for Govinda if he is found to be involved in the scam?How are influencers regulated in other countries, such as France, when it comes to promoting financial products?