World-renowned Bollywood actor Govinda finds himself at the center of an investigation linked to an alleged crypto fraud. Allegations accuse the actor of actively promoting a project that successfully raised over $300 million from Indian investors.
Renowned actor Govinda at the heart of a crypto investigation
Renowned Bollywood actor, Govinda is currently in the limelight, not for his film career, but for his work with because of his alleged links with the company Solar Techno Alliance.
According to reports, the company managed to collect over $320 million from investors in India before being recognized as a Ponzi scheme.
On August 7, the Indian police arrested several executives of Solar Techno Alliance, accusing them of using the funds collected from investors as they saw fit.
The Odisha Economic Offenses Wing (EOW) strongly suspects that Govinda played a key role in promoting this scheme, particularly through its advertising.
A report by Times of India, published on September 18, reveals that these advertising campaigns have been a resounding success, attracting over 10,000 people from different cities in India to invest in the project.
This affair has had a significant impact on Govinda’s reputation, which is now mired in a flood of rumors and speculation.
Shashi Sinha, who represents Govinda, defends his actor, claiming that he was merely doing his job as an influencer and was not directly involved in the scam. However, the exact degree of his involvement remains unclear.
Govinda’s current situation comes at a time when awareness of the power of influencers is spreading worldwide. More and more countries are taking steps to regulate their activities, particularly in the financial sphere. In France, for example, a certification system has been set up for influencers promoting financial products, aimed at guaranteeing their competence and responsibility. India, which remains attentive to developments in the financial world, will soon follow this trend.
As a journalist at Coinpri, I’ve been captivated by the world of bitcoin and blockchain since 2020. The decentralized aspect of Bitcoin particularly piqued my interest. Since then, I’ve been working constantly to spread my knowledge, hoping one day to see a world where everyone fully enjoys their financial freedom.