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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/unfolding-the-hypertech-cryptocurrency-fraud-a-multi-million-dollar-deception" rel="noopener noreferrer nofollow">Unfolding the HyperTech Cryptocurrency Fraud: A Multi-Million Dollar Deception</a><br></p>
<p style="text-align: justify">The United States securities regulator is currently overseeing a significant fraud case involving a cryptocurrency scheme worth $1.7 billion. Two individuals, Xue Lee and Brenda Chung, are implicated in this fraudulent operation, which falsely promised investors listings on the Hong Kong stock exchange and even employed an actor to impersonate the company’s CEO in promotional materials.</p>
<h2 id="key-developments-in-the-hypertech-fraud-investigation">Key Developments in the HyperTech Fraud Investigation</h2>
<p style="text-align: justify">The Securities and Exchange Commission (SEC) has filed a complaint against Lee and Chung, who operated under various names including HyperFund, HyperVerse, and HyperTech. They are accused of selling membership packages with the lure of high returns from crypto <a href="https://en.bitcoinhaber.net/kyrgyzstans-crypto-mining-tax-revenue-surge" rel="noopener noreferrer nofollow">mining</a> and using the proceeds for personal luxuries and funding crypto wallets.</p>
<p style="text-align: justify">While Chung has pleaded guilty to the charges and awaits a court-determined fine, Lee faces additional charges of conspiracy to commit securities fraud and wire fraud by the U.S. Maryland District Attorney’s Office. A third accomplice, Rodney Burton, has also been charged by prosecutors.</p>
<p style="text-align: justify">The SEC’s court filings reveal that Lee falsely claimed HyperTech would be listed on the Hong Kong Stock Exchange by 2022 and used fabricated media appearances to deceive investors. Moreover, a Thai actor was hired to pose as the company’s CEO to promote HyperVerse, and a referral system was used to attract more investors through misleading promises.</p>
<p style="text-align: justify">The SEC’s allegations extend to Chung’s personal expenditures of $3.7 million on luxury items and properties, while Lee is accused of receiving approximately $140,000 in crypto assets. These details underline the extent of the fraudulent activities and the financial impact on the victims.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/unfolding-the-hypertech-cryptocurrency-fraud-a-multi-million-dollar-deception" rel="noopener noreferrer nofollow">Unfolding the HyperTech Cryptocurrency Fraud: A Multi-Million Dollar Deception</a></h5>

Unfolding the HyperTech Cryptocurrency Fraud: A Multi-Million Dollar Deception

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