{"id":25887,"date":"2024-01-30T08:57:26","date_gmt":"2024-01-30T08:57:26","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/hyperverse-faces-sec-allegations-of-2-billion-crypto-investment-fraud\/"},"modified":"2024-01-30T08:57:26","modified_gmt":"2024-01-30T08:57:26","slug":"hyperverse-faces-sec-allegations-of-2-billion-crypto-investment-fraud","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/hyperverse-faces-sec-allegations-of-2-billion-crypto-investment-fraud\/","title":{"rendered":"HyperVerse Faces SEC Allegations of $2 Billion Crypto Investment Fraud"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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A criminal indictment and complaint have been launched by the U.S. Securities and Exchange Commission (SEC) and a grand jury against two of the founders of HyperVerse, a purportedly fraudulent cryptocurrency investment scam that collected around $2 billion. Operating under many identities, including HyperFund and HyperCapital, the internet investment endeavor is accused of misleading investors worldwide with promises of huge profits.<\/p>\n

The SEC claims that Brenda \u201cBitcoin Beutee\u201d Chunga, a promoter based in Maryland, and Australian founder Sam Lee, who lives in the United Arab Emirates, staged a \u201cpyramid and Ponzi scheme\u201d that deceived investors. The Securities and Exchange Commission (SEC) claims that HyperVerse even hired a TV personality named Steven Reece Lewis to pretend to be the CEO during the company\u2019s debut.<\/p>\n

According to the SEC lawsuit, \u201cHyperFund even hired an actor to pretend to be the new CEO when HyperVerse was launched.\u201d According to the complaint, the company had no real source of income and had to rely on deposits from new investors to cover withdrawal demands.<\/p>\n

Personal Gains and Lavish Spending<\/h2>\n

The SEC claims that Brenda Chunga individually obtained around $3.7 million, which she allegedly used to purchase an expensive BMW, fashionable clothes, a $1.2 million home in Maryland, and a $1.1 million apartment in Dubai. Sam Lee is accused of transferring $140,000 in cryptocurrency to a wallet under his ownership. Both people have been charged by the SEC for selling unregistered securities, and they have been ordered to repay any unjustified profits.<\/p>\n

Gurbir Grewal, director of the SEC\u2019s enforcement division, commented, \u201cLee and Chunga attracted investors with the allure of profits from crypto asset mining, but the only thing that HyperFund mined was its investors\u2019 pockets.\u201d<\/em><\/p>\n

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In exchange for a court-determined activity ban and sanctions, Brenda Chunga has consented to resolve the SEC\u2019s allegations. The SEC aims to provide harmed investors with justice and make both leaders responsible for their deeds.<\/p>\n<\/p><\/div>\n

Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) A criminal indictment and complaint have been launched by the U.S. Securities and Exchange Commission (SEC) and a grand jury against two of the founders of HyperVerse, a purportedly fraudulent cryptocurrency investment scam that collected around $2 billion. Operating under many identities, including HyperFund and HyperCapital, […]<\/p>\n","protected":false},"author":34,"featured_media":25888,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/25887"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=25887"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/25887\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/25888"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=25887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=25887"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=25887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}