Once celebrated as the “Bitcoin Crown Prince” of Australia, Sam Lee is now in a legal scoop with the dry and the doj. The blockchain entrepreneur, who co -founded hyperverse and hyperfund crypto investment plans, is faced with fraud costs of the United States Ministry of Justice (DOJ) and Securities and Exchange Commission (SEC). Prosecutors accuse him of having directed $ 1.89 billion Ponzi diagram This has fraud thousands of investors worldwide.
The SEC relieves that Lee and its co-conspirators have operated a marketing scam on several levels disguised as investment in high-performance cryptography. From June 2020 to November 2022, investors were attracted to promises of guaranteed profits, but instead, their money was channeled in a fraudulent system. One of the main promoters of Lee, Brenda Chunga, has already pleaded guilty to accusations of conspiracy, admitting that Hyperfund “exploited” the funds of investors rather than cryptocurrency. An analyst followed his scam history. Here is what has happened so far.
A network of lies and false CEOs
Investigations have discovered deeper layers of deception. Lee would have used a false CEO to shape the hyperverse program, deceiving investors from its legitimacy. He also had links with the Australian crypto firm now glued Blockchain Global, arousing suspicion of his past transactions. Repression has ruined its reputation, and few support it now.
Arrest in Dubai-But justice is it?
In November 2024, Lee voluntarily went to the authorities of Dubai following a Red Interpol opinion. He was arrested for 60 days before being released, arousing speculation to find out if he will never face justice in the United States. The MJ invoices a conspiracy in terms of titles and fraud by wire, which could mean five years in prison. The dry also pursues him for having illegally sold unregistered titles.
A provocative position
Despite increasing legal problems, Lee remains provocative. In a video interview With Bloomberg, he rejected the accusations, saying that marketing on several levels is legitimate and that American regulators are simply trying to remove the crypto. He also greeted Dubai regulatory environmentAlluding to future companies in space. His closing remarks – “There are many exciting projects on the horizon” – has aroused concerns that he could already plot his next program. These fears are not stronger as a series of nine YouTubes videos The promotion of its new company has resurfaced.
Red flags to watch
Sam Lee’s new company shows disturbing signs of another scam. It is always based on affiliation marketing and unclear token systems, as is the old Ponzi diagrams. Instead of taking responsibility for the collapse of Hyperverse, he repels legal accusations and changes the blame. His tactics of rejection of criticisms as dishonest while demanding loyalty is a classic crook movement. His waves promises and secret plans make him even less trustworthy. With so many warning signs, investors should be very cautious.
For the moment, Lee remains in Dubai, perhaps traces his next cryptography program. The big question is: do the authorities be careful?
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