Information reaching Kossyderrickent has it that HyperVerse crypto promoter, Rodney Burton, arrested for he defrauded clients of $7M in Crypto Investment Scheme.
Rodney Burton, also known as “Bitcoin Rodney,” has been arrested and charged by U.S. authorities for allegedly defrauding over $7 million through a fake investment scheme called HyperVerse. The scheme was promoted by a network of HyperFund promoters who made fraudulent presentations to investors, falsely claiming that investors who purchased memberships would receive daily passive rewards. Burton received over $7 million from individuals through 562 wire transfers or cashier’s checks. The HyperVerse crypto scheme resulted in thousands of people losing millions of dollars, and Australia’s Assistant Treasurer and Minister for Financial Services will ask the country’s Securities and Investments Commission why it didn’t warn consumers about the scheme.
The affidavit also outlines how the scheme allegedly worked.
“HyperFund operated a purportedly legitimate decentralized finance, or ‘DeFi,’ cryptocurrency investment platform,” Accardi states.
“A network of HyperFund promoters … made fraudulent promotional presentations to investors and potential investors. In those presentations, promoters touted HyperFund’s investment programs, including the purported returns that prospective investors could earn from investing with HyperFund. Potential investors were told that they could purchase ‘memberships’ in the ‘world’s most sustainable passive rewards program’.”
The scheme falsely claimed that investors who purchased memberships would receive daily rewards of between 0.5% to 1% daily, until the investor’s initial investment doubled or tripled in value, the affidavit alleges.
Burton’s appointed public defence lawyer also did not respond to the Guardian’s request for comment by time of publication.
In an affidavit in support of the criminal complaint and arrest warrant lodged in the US district court of Maryland, IRS special agent Andrew Accardi alleges that Burton was a promoter of HyperFund, which also operated under the names HyperTech, HyperCapital, HyperVerse and HyperNation.
The court documents, reported by the website courtwatch.news and seen by the Guardian, refer to all of the schemes collectively as HyperFund.
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