“DOJ and SEC unveil charges in $1.9 billion HyperFund cryptocurrency fraud”
February 1, 2024
“The Department of Justice on Monday announced criminal charges against two people and the guilty plea of a third person for orchestrating a worldwide $1.9 billion cryptocurrency Ponzi fraud scheme known as HyperFund, among other names.
The Securities and Exchange Commission, in a related civil action, charged two of those individuals for their involvement in the alleged crypto pyramid scheme, which collapsed in 2022. The three defendants charged by the DOJ falsely claimed that investors in HyperFund would receive “substantial returns paid from cryptocurrency mining operations, which did not in fact exist,”…”
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