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Comp pr2024 11

This case involves an alleged $1.7 billion global crypto asset pyramid and Ponzi scheme called HyperFund that was operated through a series of projects from June 2020 to May 2022. The SEC al…

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Justin Vallejo
11K views31 pages

Comp pr2024 11

This case involves an alleged $1.7 billion global crypto asset pyramid and Ponzi scheme called HyperFund that was operated through a series of projects from June 2020 to May 2022. The SEC alleges that HyperFund offered unregistered securities in the form of membership packages promising daily returns of 0.5-1% through crypto mining. However, HyperFund had no real revenue and paid returns using new investor funds. Defendant Xue Samuel Lee was a co-founder who promoted bogus mining claims. Defendant Brenda Chunga was a top US promoter who received over $3.7 million from HyperFund and investors. The SEC alleges they violated securities laws through an unregistered offering of securities and material misrepresentations.

11K views31 pages

Comp pr2024 11

This case involves an alleged $1.7 billion global crypto asset pyramid and Ponzi scheme called HyperFund that was operated through a series of projects from June 2020 to May 2022. The SEC al…

Uploaded by

Justin Vallejo
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