The alleged “Ponzi” scheme once hired an actor residing in Thailand to act as its CEO when it launched in 2021, according to a newly filed SEC complaint.
At least two people were behind an alleged $1.7 billion cryptocurrency “fraud” scheme that once promised investors plans to list on the Hong Kong stock exchange and even hired an actor to play as the firm’s CEO, according to a lawsuit from the United States securities regulator.
In a newly filed complaint from the Securities and Exchange Commission, the regulator charged Xue Lee (aka Sam Lee) and Brenda “Bitcoin Beautee” Chunga on Jan. 29 for their involvement in the scheme — which operated under several names such as HyperFund, HyperVerse and HyperTech.
The two were said to have promoted various “membership” packages to investors with the false promise of guaranteed, high returns from cryptocurrency mining operations and allegedly used the “ill-gotten gains” to buy luxury cars, and condos and fund crypto wallets.
