The US Securities and Exchange Commission (SEC) accuses HyperVerse, one of the cryptocurrency projects, of profiteering approximately $2 billion.
Allegedly, HyperVerse, which started its operations in June 2020, received requests from many investors. get rich quick with the promise $1.89 billion collected.
In the case filed by the SEC, individuals named Sam Lee and Brenda Chunga, who live in the United Arab Emirates, established a pyramid scheme It was suggested. According to the institution’s statements, Chunga agreed to reach a settlement following the accusations against him.
To act as CEO of HyperFund founded by HyperVerse agreed with an actor. According to the SEC’s allegations, the person named Steven Reece Lewis, who was introduced as the manager of the company, was actually a television presenter living in Thailand.
SEC, “There was no apparent legitimate source of income, and withdrawing investors were paid with money deposited by new investors.” said.
Lee and Chunga to investors from cryptocurrency mining He said they would make money.
Chunga, personally $3.7 million bought branded clothing, a BMW vehicle, 1.2 million in Maryland; He used it to buy a house worth $1.1 million in Dubai.