US DOJ charges 3 people in a $1.9bn cryptocurrency scam

  • The US Department of Justice has filed 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 US Securities and Exchange Commission, in a related civil action, charged two of them
  • The DOJ alleges that from June 2020 through November 2022, Lee and his co-conspirators sold investment contracts online through HyperFund’s platform and claimed that investors would earn returns of between .5% and 1% each day until their original investment was either doubled or tripled through revenue from large-scale crypto mining.

Info via CNBC

There is a never-ending supply of gullible people for these scams.

This article was written by Eamonn Sheridan at Source