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{"actor":"system:backfill","investigation_id":"afdf851f-4475-40b3-9cee-4eebc55b0dfc","kind":"publish","page_slug":"hyperfund-hyperverse","published_at":"2026-06-09T20:05:41.019Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"HyperFund / HyperVerse","sections":[{"content":"On January 29, 2024, a federal grand jury indictment was unsealed in the U.S. District Court for the District of Maryland charging Xue Samuel Lee (a.k.a. 'Sam' Lee) with one count of conspiracy to commit securities fraud and wire fraud. The same day the DOJ announced the arrest of Rodney Burton (a.k.a. 'Bitcoin Rodney') and the prior guilty plea of Brenda Chunga (a.k.a. 'Bitcoin Beautee'). On January 30, 2024, the SEC filed a parallel civil complaint against Lee and Chunga, alleging violations of the antifraud provisions of the federal securities laws. The DOJ alleged that the scheme defrauded investors of approximately $1.89 billion; the SEC's complaint characterized the scheme as raising more than $1.7 billion. All defendants are presumed innocent unless and until proven guilty in the criminal proceedings. The SEC civil action does not require proof beyond a reasonable doubt.","heading":"Criminal and Regulatory Actions","severity":"critical","sources":[{"credibility":1,"name":"DOJ Office of Public Affairs: Three Individuals Charged for Roles in $1.89B Cryptocurrency Fraud Scheme","type":"regulatory","url":"https://www.justice.gov/archives/opa/pr/three-individuals-charged-roles-189b-cryptocurrency-fraud-scheme"},{"credibility":1,"name":"SEC Press Release: SEC Charges Founder of $1.7 Billion HyperFund Crypto Pyramid Scheme and Top Promoter with Fraud","type":"regulatory","url":"https://www.sec.gov/newsroom/press-releases/2024-11"},{"credibility":1,"name":"DOJ Criminal Division: HyperFund and Associated Cases","type":"regulatory","url":"https://www.justice.gov/criminal/case/hyperfund-and-associated-cases"},{"credibility":1,"name":"CNBC: DOJ and SEC unveil charges in $1.9 billion HyperFund cryptocurrency fraud","type":"news_article","url":"https://www.cnbc.com/2024/01/29/doj-and-sec-unveil-charges-in-1point9-billion-cryptocurrency-fraud-scheme.html"}]},{"content":"According to the DOJ indictment and SEC complaint, HyperFund sold investment 'membership packages' ranging from approximately $300 to $10,000, promising investors daily passive returns of 0.5% to 1% until their original investment was doubled or tripled — a claimed return of up to 300% over roughly 600 days. The scheme represented that these returns would be funded by revenues from large-scale cryptocurrency mining operations. Federal prosecutors and the SEC alleged that no such mining operations existed and that the scheme had no legitimate source of revenue. Investor withdrawals were paid from new investor deposits, consistent with a classic Ponzi structure. The SEC specifically alleged that 'investor withdrawals were paid with new investor deposits.' The scheme also incorporated multilevel-marketing recruitment incentives, paying participants bonuses of 1–15% for recruiting new investors, amplifying its pyramid structure. Beginning at least in July 2021, the scheme began blocking investor withdrawals; the scheme ultimately collapsed in or around May 2022.","heading":"Scheme Structure and Alleged Fraud Mechanics","severity":"critical","sources":[{"credibility":1,"name":"DOJ Office of Public Affairs: Three Individuals Charged for Roles in $1.89B Cryptocurrency Fraud Scheme","type":"regulatory","url":"https://www.justice.gov/archives/opa/pr/three-individuals-charged-roles-189b-cryptocurrency-fraud-scheme"},{"credibility":1,"name":"SEC Press Release: SEC Charges Founder of $1.7 Billion HyperFund Crypto Pyramid Scheme","type":"regulatory","url":"https://www.sec.gov/newsroom/press-releases/2024-11"},{"credibility":2,"name":"CoinDesk: HyperVerse's Alleged Ponzi Scheme Raked in Nearly $2B, Hired Actor as Fake CEO","type":"news_article","url":"https://www.coindesk.com/policy/2024/01/29/hyperverses-alleged-ponzi-scheme-raked-in-nearly-2b-hired-actor-as-fake-ceo"},{"credibility":3,"name":"CEL Solicitors: The HyperVerse Scam — Investors Left Unable to Withdraw","type":"other","url":"https://celsolicitors.co.uk/the-hyperverse-scam-investors-left-unable-to-withdraw/"}]},{"content":"Xue Samuel Lee (a.k.a. 'Sam' Lee), age approximately 35, an Australian citizen residing in Dubai, UAE, is alleged to be the co-founder of HyperFund and the principal architect of the scheme. He faces one federal count of conspiracy to commit securities fraud and wire fraud. Lee evaded arrest after the January 2024 indictment and remained at large. In October–November 2024, UAE authorities detained Lee at Dubai's Al Aweer Central Prison, reportedly pursuant to an Interpol Red Notice. He was reportedly detained for approximately 60 days before being released. No formal U.S. extradition proceedings have been confirmed publicly; there is no extradition treaty between the U.S. and the UAE, though Australia — where Lee holds citizenship — does have an extradition arrangement with UAE authorities. As of the date of this report, Lee's whereabouts and precise legal status remain uncertain. Rodney Burton (a.k.a. 'Bitcoin Rodney'), age approximately 54, of Miami, Florida, was arrested at Miami International Airport on January 24, 2024, while allegedly carrying a one-way ticket to the UAE. A federal judge denied bail, ruling he posed an 'extreme flight risk.' A superseding indictment subsequently expanded his charges to 11 federal counts: one count of conspiracy to commit wire fraud, two counts of wire fraud, seven counts of money laundering, and one count of operating an unlicensed money transmitting business. Conviction on the wire fraud counts would carry a maximum of 20 years per count; money laundering counts carry up to 10 years each. Burton's criminal trial is currently scheduled for September 14, 2026, before Judge Richard D. Bennett in the District of Maryland. Burton has alleged he was duped by Lee. Brenda Chunga (a.k.a. 'Bitcoin Beautee'), of Severna Park, Maryland, entered a guilty plea on December 17, 2023, to one count of conspiracy to commit securities fraud and wire fraud, which carries a maximum five-year prison term. She is alleged to have personally collected more than $3.5–3.7 million through the scheme, spending proceeds on luxury goods and real estate. Her sentencing has been repeatedly postponed and is currently scheduled for June 29, 2026.","heading":"Defendant Profiles and Legal Status","severity":"critical","sources":[{"credibility":1,"name":"DOJ Office of Public Affairs: Three Individuals Charged for Roles in $1.89B Cryptocurrency Fraud Scheme","type":"regulatory","url":"https://www.justice.gov/archives/opa/pr/three-individuals-charged-roles-189b-cryptocurrency-fraud-scheme"},{"credibility":1,"name":"SEC Litigation Release LR-25933: Xue Samuel Lee and Brenda Indah Chunga","type":"regulatory","url":"https://www.sec.gov/enforcement-litigation/litigation-releases/lr-25933"},{"credibility":2,"name":"Cryptopolitan: Bitcoin Rodney hit with expanded charges in $1.8B HyperFund crypto scam","type":"news_article","url":"https://www.cryptopolitan.com/bitcoin-rodney-hit-with-expanded-charges/"},{"credibility":2,"name":"BusinessForHome: HyperFund Co-Founder Sam Lee Arrested In Dubai For $1.8 Billion Fraud","type":"news_article","url":"https://www.businessforhome.org/2024/11/hyperfund-co-founder-sam-lee-arrested-in-dubai-for-1-8-billion-fraud/"},{"credibility":2,"name":"BehindMLM: Brenda Chunga's HyperFund criminal plea deal","type":"news_article","url":"https://behindmlm.com/companies/hyperfund/brenda-chungas-hyperfund-criminal-plea-deal/"},{"credibility":2,"name":"The Block: Bitcoin Rodney faces decades in prison as feds add wire fraud to HyperFund charges","type":"news_article","url":"https://www.theblock.co/post/382450/bitcoin-rodney-faces-decades-in-prison-as-feds-add-wire-fraud-to-hyperfund-charges"},{"credibility":1,"name":"DOJ District of Maryland: Miami Man Indicted on Federal Wire-Fraud Conspiracy Charges","type":"regulatory","url":"https://www.justice.gov/usao-md/pr/miami-man-indicted-federal-wire-fraud-conspiracy-charges"}]},{"content":"When HyperFund rebranded to HyperVerse in late 2021, the scheme presented a man using the name 'Steven Reece Lewis' as its chief executive officer at the HyperVerse launch event. Investigations by The Guardian Australia and independent researchers revealed that the credentials attributed to Lewis — including degrees from the University of Leeds and Cambridge University and senior roles at Goldman Sachs and Adobe — were entirely fabricated; no records of Lewis existed at those institutions or companies. The real individual behind the persona was identified as Stephen Harrison, a British actor and freelance television presenter based in Thailand. Harrison confirmed to The Guardian that he was paid approximately 180,000 Thai baht (roughly AUD $7,500 or GBP £4,000) over nine months, plus a free suit, to portray the CEO role. Harrison stated he was unaware of the scheme's fraudulent nature. The fabrication of an executive identity with counterfeit credentials is consistent with the broader pattern of misrepresentation alleged by the DOJ and SEC.","heading":"Fabricated Leadership and False Credentials","severity":"high","sources":[{"credibility":2,"name":"CoinDesk: HyperVerse's Alleged Ponzi Scheme Raked in Nearly $2B, Hired Actor as Fake CEO","type":"news_article","url":"https://www.coindesk.com/policy/2024/01/29/hyperverses-alleged-ponzi-scheme-raked-in-nearly-2b-hired-actor-as-fake-ceo"},{"credibility":2,"name":"Yahoo Finance: The CEO of failed crypto firm HyperVerse boasted an extraordinary resume. He may be completely made-up","type":"news_article","url":"https://finance.yahoo.com/news/ceo-failed-crypto-firm-hyperverse-175804128.html"},{"credibility":2,"name":"CryptoNews: British Actor Who Posed as HyperVerse CEO Apologises, Says He Was Not Aware of the Scam","type":"news_article","url":"https://cryptonews.com/news/british-actor-who-posed-as-hyperverse-ceo-apologises-says-he-was-not-aware-of-the-scam/"}]},{"content":"Sam Lee and Ryan Xu (a.k.a. Zijing Xu) co-founded Blockchain Global, an Australian cryptocurrency exchange operating the ACX platform. Blockchain Global collapsed in late 2019 after users reported difficulties accessing funds; the company entered administration in 2021 owing creditors approximately AUD $58 million. The Australian Securities and Investments Commission (ASIC) opened an investigation into Blockchain Global following reporting by The Guardian Australia linking Lee and Xu to multiple alleged crypto schemes. Ryan Xu was reported to have faced travel restrictions in Australia during regulatory proceedings. Following Blockchain Global's collapse, Lee and Xu launched HyperTech and the HyperCapital investment scheme, which itself collapsed in mid-2020. HyperFund was then launched in June 2020 as an evolution of HyperCapital, and subsequently rebranded to HyperVerse in late 2021 and later HyperNation. Xu has not been charged in U.S. proceedings as of the date of this report; his whereabouts are unknown.","heading":"Predecessor Entities and Prior Regulatory History","severity":"high","sources":[{"credibility":2,"name":"Information Age (ACS): Aussie man charged over $2.8b crypto scheme","type":"news_article","url":"https://ia.acs.org.au/article/2024/aussie-man-charged-for--2-8b-crypto-scheme-.html"},{"credibility":2,"name":"CryptoNews Australia: ASIC Probes Crypto Firm Blockchain Global Collapse","type":"news_article","url":"https://cryptonews.com.au/news/asic-probes-crypto-firm-blockchain-global-collapse-116939/"},{"credibility":2,"name":"BehindMLM: Blockchain Global fallout confirms Hyperverse execs in hiding","type":"news_article","url":"https://behindmlm.com/companies/hyperfund/blockchain-global-fallout-confirms-hyperverse-execs-in-hiding/"},{"credibility":3,"name":"AccessNewswire: HyperTech Group Announces Launch of HyperFund And The Ogilvy Project (June 2020 press release)","type":"other","url":"https://www.accessnewswire.com/newsroom/en/business-and-professional-services/hypertech-group-announces-launch-of-hyperfund-and-the-ogilvy-proj-593547"}]},{"content":"Federal prosecutors alleged the scheme raised approximately $1.89 billion from investors worldwide. The SEC's civil complaint placed total investor contributions above $1.7 billion. Blockchain analytics firm Chainalysis estimated that HyperVerse investors suffered combined losses of approximately $1.3 billion after accounting for amounts withdrawn prior to the scheme's collapse. The scheme targeted retail investors globally through multilevel-marketing channels, YouTube promotional videos, and social media recruitment. Hungarian central bank authorities issued a warning characterizing HyperTech as a 'suspected pyramid scheme' prior to U.S. enforcement action. Investor withdrawals were first restricted beginning around July 2021 and were fully blocked by the time the scheme collapsed in May 2022.","heading":"Investor Losses and Scale","severity":"critical","sources":[{"credibility":1,"name":"DOJ Office of Public Affairs: Three Individuals Charged for Roles in $1.89B Cryptocurrency Fraud Scheme","type":"regulatory","url":"https://www.justice.gov/archives/opa/pr/three-individuals-charged-roles-189b-cryptocurrency-fraud-scheme"},{"credibility":1,"name":"CNBC: DOJ and SEC unveil charges in $1.9 billion HyperFund cryptocurrency fraud","type":"news_article","url":"https://www.cnbc.com/2024/01/29/doj-and-sec-unveil-charges-in-1point9-billion-cryptocurrency-fraud-scheme.html"},{"credibility":2,"name":"TechTimes: HyperVerse Scheme — Massive Losses Due to Crypto Scam Spark Regulatory Concerns","type":"news_article","url":"https://www.techtimes.com/articles/300916/20240123/hyperverse-scheme-massive-losses-due-crypto-scam-spark-regulatory-concerns.htm"},{"credibility":2,"name":"OCCRP: US — Two Charged In $1.89 Billion Crypto Fraud Scheme, Third Member Pleads Guilty","type":"news_article","url":"https://www.occrp.org/en/news/us-two-charged-in-189-billion-crypto-fraud-scheme-third-member-pleads-guilty"}]},{"content":"Federal prosecutors alleged that scheme participants used investor funds for personal enrichment rather than for cryptocurrency mining or other legitimate investment activities. Brenda Chunga is alleged to have collected over $3.5–3.7 million in scheme proceeds, spending funds on luxury goods, vehicles, and real estate in Maryland. Rodney Burton is alleged under the superseding indictment to have spent investor proceeds on luxury condominiums, sports cars, and a yacht. Sam Lee reportedly transferred approximately $140,000 in digital assets to personal wallets. Lee and Chunga are also alleged to have used funds for designer clothing, luxury automobiles, and properties in Maryland and Dubai. Burton's bail denial cited in part the severity of alleged personal financial crimes.","heading":"Personal Enrichment and Misuse of Investor Funds","severity":"high","sources":[{"credibility":1,"name":"SEC Litigation Release LR-25933: Xue Samuel Lee and Brenda Indah Chunga","type":"regulatory","url":"https://www.sec.gov/enforcement-litigation/litigation-releases/lr-25933"},{"credibility":2,"name":"Cryptopolitan: Bitcoin Rodney hit with expanded charges in $1.8B HyperFund crypto scam","type":"news_article","url":"https://www.cryptopolitan.com/bitcoin-rodney-hit-with-expanded-charges/"},{"credibility":2,"name":"BehindMLM: Brenda Chunga's HyperFund criminal plea deal","type":"news_article","url":"https://behindmlm.com/companies/hyperfund/brenda-chungas-hyperfund-criminal-plea-deal/"}]}],"sources_used":[{"credibility":1,"name":"DOJ Office of Public Affairs: Three Individuals Charged for Roles in $1.89B Cryptocurrency Fraud Scheme","type":"regulatory","url":"https://www.justice.gov/archives/opa/pr/three-individuals-charged-roles-189b-cryptocurrency-fraud-scheme"},{"credibility":1,"name":"DOJ Criminal Division: HyperFund and Associated Cases","type":"regulatory","url":"https://www.justice.gov/criminal/case/hyperfund-and-associated-cases"},{"credibility":1,"name":"DOJ District of Maryland: Three Individuals Charged In $1.89 Billion Cryptocurrency Fraud Scheme","type":"regulatory","url":"https://www.justice.gov/usao-md/pr/three-individuals-charged-189-billion-cryptocurrency-fraud-scheme"},{"credibility":1,"name":"DOJ District of Maryland: Miami Man Indicted on Federal Wire-Fraud Conspiracy Charges","type":"regulatory","url":"https://www.justice.gov/usao-md/pr/miami-man-indicted-federal-wire-fraud-conspiracy-charges"},{"credibility":1,"name":"SEC Press Release: SEC Charges Founder of $1.7 Billion HyperFund Crypto Pyramid Scheme and Top Promoter with Fraud","type":"regulatory","url":"https://www.sec.gov/newsroom/press-releases/2024-11"},{"credibility":1,"name":"SEC Litigation Release LR-25933: Xue Samuel Lee and Brenda Indah Chunga","type":"regulatory","url":"https://www.sec.gov/enforcement-litigation/litigation-releases/lr-25933"},{"credibility":1,"name":"CNBC: DOJ and SEC unveil charges in $1.9 billion HyperFund cryptocurrency fraud","type":"news_article","url":"https://www.cnbc.com/2024/01/29/doj-and-sec-unveil-charges-in-1point9-billion-cryptocurrency-fraud-scheme.html"},{"credibility":2,"name":"CoinDesk: HyperVerse's Alleged Ponzi Scheme Raked in Nearly $2B, Hired Actor as Fake CEO","type":"news_article","url":"https://www.coindesk.com/policy/2024/01/29/hyperverses-alleged-ponzi-scheme-raked-in-nearly-2b-hired-actor-as-fake-ceo"},{"credibility":2,"name":"Cryptopolitan: Bitcoin Rodney hit with expanded charges in $1.8B HyperFund crypto scam","type":"news_article","url":"https://www.cryptopolitan.com/bitcoin-rodney-hit-with-expanded-charges/"},{"credibility":2,"name":"The Block: Bitcoin Rodney faces decades in prison as feds add wire fraud to HyperFund charges","type":"news_article","url":"https://www.theblock.co/post/382450/bitcoin-rodney-faces-decades-in-prison-as-feds-add-wire-fraud-to-hyperfund-charges"},{"credibility":2,"name":"BusinessForHome: HyperFund Co-Founder Sam Lee Arrested In Dubai For $1.8 Billion Fraud","type":"news_article","url":"https://www.businessforhome.org/2024/11/hyperfund-co-founder-sam-lee-arrested-in-dubai-for-1-8-billion-fraud/"},{"credibility":2,"name":"BehindMLM: Sam Lee detained in Dubai on Interpol arrest warrant","type":"news_article","url":"https://behindmlm.com/companies/hyperfund/sam-lee-detained-in-dubai-on-interpol-arrest-warrant/"},{"credibility":2,"name":"BehindMLM: Brenda Chunga's HyperFund criminal plea deal","type":"news_article","url":"https://behindmlm.com/companies/hyperfund/brenda-chungas-hyperfund-criminal-plea-deal/"},{"credibility":2,"name":"CryptoNews Australia: ASIC Probes Crypto Firm Blockchain Global Collapse","type":"news_article","url":"https://cryptonews.com.au/news/asic-probes-crypto-firm-blockchain-global-collapse-116939/"},{"credibility":2,"name":"CoinGeek: HyperVerse scam founder Xue Sam Lee hit with criminal, civil fraud charges","type":"news_article","url":"https://coingeek.com/hyperverse-scam-founder-xue-sam-lee-hit-with-criminal-civil-fraud-charges/"},{"credibility":2,"name":"OCCRP: US — Two Charged In $1.89 Billion Crypto Fraud Scheme, Third Member Pleads Guilty","type":"news_article","url":"https://www.occrp.org/en/news/us-two-charged-in-189-billion-crypto-fraud-scheme-third-member-pleads-guilty"},{"credibility":2,"name":"Yahoo Finance: The CEO of failed crypto firm HyperVerse boasted an extraordinary resume. He may be completely made-up","type":"news_article","url":"https://finance.yahoo.com/news/ceo-failed-crypto-firm-hyperverse-175804128.html"},{"credibility":2,"name":"Information Age (ACS): Aussie man charged over $2.8b crypto scheme","type":"news_article","url":"https://ia.acs.org.au/article/2024/aussie-man-charged-for--2-8b-crypto-scheme-.html"},{"credibility":3,"name":"AccessNewswire: HyperTech Group Announces Launch of HyperFund And The Ogilvy Project","type":"other","url":"https://www.accessnewswire.com/newsroom/en/business-and-professional-services/hypertech-group-announces-launch-of-hyperfund-and-the-ogilvy-proj-593547"}],"summary":"HyperFund (also marketed as HyperVerse, HyperCapital, HyperNation, and HyperTech) was a cryptocurrency investment scheme that raised approximately $1.89 billion from global investors between June 2020 and November 2022 by promising daily passive returns of 0.5–1% backed by purported large-scale crypto mining operations. The U.S. Department of Justice and the Securities and Exchange Commission both filed charges in January 2024, alleging the scheme had no legitimate mining revenues and operated as a pyramid and Ponzi structure in which new investor deposits funded earlier investors' withdrawals. Co-founder Xue 'Sam' Lee remains at large following a temporary detention in Dubai; co-promoter Rodney 'Bitcoin Rodney' Burton is held without bail with trial scheduled for September 14, 2026; and co-promoter Brenda 'Bitcoin Beautee' Chunga has pleaded guilty and awaits sentencing.","timeline":[{"date":"2019-01-01","event":"Blockchain Global's ACX crypto exchange collapses; users begin reporting difficulty accessing funds. The company is co-directed by Sam Lee and Ryan Xu.","source":"CryptoNews Australia: ASIC Probes Crypto Firm Blockchain Global Collapse","source_url":"https://cryptonews.com.au/news/asic-probes-crypto-firm-blockchain-global-collapse-116939/"},{"date":"2020-06-11","event":"HyperFund officially launches at the Hyper Summit livestream, presented as an upgrade of HyperCapital under the HyperTech Group umbrella. Ryan Xu and Sam Lee are listed as founders.","source":"AccessNewswire: HyperTech Group Announces Launch of HyperFund","source_url":"https://www.accessnewswire.com/newsroom/en/business-and-professional-services/hypertech-group-announces-launch-of-hyperfund-and-the-ogilvy-proj-593547"},{"date":"2021-01-01","event":"Blockchain Global enters formal administration in Australia owing creditors approximately AUD $58 million.","source":"Information Age (ACS): Aussie man charged over $2.8b crypto scheme","source_url":"https://ia.acs.org.au/article/2024/aussie-man-charged-for--2-8b-crypto-scheme-.html"},{"date":"2021-07-01","event":"HyperFund begins blocking investor withdrawals, according to DOJ and SEC allegations.","source":"DOJ Office of Public Affairs press release","source_url":"https://www.justice.gov/archives/opa/pr/three-individuals-charged-roles-189b-cryptocurrency-fraud-scheme"},{"date":"2021-12-01","event":"HyperFund rebrands as HyperVerse and holds a launch event featuring Stephen Harrison posing as fabricated CEO 'Steven Reece Lewis.'","source":"CoinDesk: HyperVerse's Alleged Ponzi Scheme Raked in Nearly $2B, Hired Actor as Fake CEO","source_url":"https://www.coindesk.com/policy/2024/01/29/hyperverses-alleged-ponzi-scheme-raked-in-nearly-2b-hired-actor-as-fake-ceo"},{"date":"2022-05-01","event":"HyperVerse/HyperFund scheme collapses; investors are no longer able to withdraw funds.","source":"CNBC: DOJ and SEC unveil charges in $1.9 billion HyperFund cryptocurrency fraud","source_url":"https://www.cnbc.com/2024/01/29/doj-and-sec-unveil-charges-in-1point9-billion-cryptocurrency-fraud-scheme.html"},{"date":"2023-12-17","event":"Brenda Chunga (a.k.a. Bitcoin Beautee) signs a plea agreement with the DOJ, agreeing to plead guilty to one count of conspiracy to commit securities fraud and wire fraud.","source":"BehindMLM: Brenda Chunga's HyperFund criminal plea deal","source_url":"https://behindmlm.com/companies/hyperfund/brenda-chungas-hyperfund-criminal-plea-deal/"},{"date":"2024-01-24","event":"Rodney Burton (Bitcoin Rodney) is arrested at Miami International Airport while allegedly carrying a one-way ticket to the UAE. A federal judge subsequently denies bail, citing extreme flight risk.","source":"DOJ District of Maryland: Miami Man Indicted on Federal Wire-Fraud Conspiracy Charges","source_url":"https://www.justice.gov/usao-md/pr/miami-man-indicted-federal-wire-fraud-conspiracy-charges"},{"date":"2024-01-29","event":"DOJ unseals federal indictment charging Sam Lee and Rodney Burton; announces Brenda Chunga's guilty plea. Charged amounts total approximately $1.89 billion.","source":"DOJ Office of Public Affairs: Three Individuals Charged for Roles in $1.89B Cryptocurrency Fraud Scheme","source_url":"https://www.justice.gov/archives/opa/pr/three-individuals-charged-roles-189b-cryptocurrency-fraud-scheme"},{"date":"2024-01-30","event":"SEC files civil fraud complaint against Sam Lee and Brenda Chunga for their roles in the alleged $1.7 billion HyperFund pyramid and Ponzi scheme.","source":"SEC Press Release: SEC Charges Founder of $1.7 Billion HyperFund Crypto Pyramid Scheme","source_url":"https://www.sec.gov/newsroom/press-releases/2024-11"},{"date":"2024-10-01","event":"UAE authorities arrest Sam Lee and detain him at Dubai's Al Aweer Central Prison, reportedly pursuant to an Interpol Red Notice.","source":"BusinessForHome: HyperFund Co-Founder Sam Lee Arrested In Dubai For $1.8 Billion Fraud","source_url":"https://www.businessforhome.org/2024/11/hyperfund-co-founder-sam-lee-arrested-in-dubai-for-1-8-billion-fraud/"},{"date":"2024-12-01","event":"Sam Lee is released from Dubai detention after approximately 60 days. No formal U.S. extradition proceedings are publicly confirmed.","source":"BehindMLM: Sam Lee detained in Dubai on Interpol arrest warrant","source_url":"https://behindmlm.com/companies/hyperfund/sam-lee-detained-in-dubai-on-interpol-arrest-warrant/"},{"date":"2025-01-01","event":"A superseding indictment expands Rodney Burton's charges from two counts to 11 federal counts, adding wire fraud and money laundering.","source":"Cryptopolitan: Bitcoin Rodney hit with expanded charges","source_url":"https://www.cryptopolitan.com/bitcoin-rodney-hit-with-expanded-charges/"},{"date":"2026-06-29","event":"Brenda Chunga's sentencing hearing is currently scheduled for this date before Judge Richard D. Bennett in the District of Maryland (date subject to further postponement).","source":"DOJ Criminal Division: HyperFund and Associated Cases","source_url":"https://www.justice.gov/criminal/case/hyperfund-and-associated-cases"},{"date":"2026-09-14","event":"Rodney Burton's criminal trial is currently scheduled to begin on this date before Judge Richard D. Bennett in the U.S. District Court for the District of Maryland.","source":"DOJ Criminal Division: HyperFund and Associated Cases","source_url":"https://www.justice.gov/criminal/case/hyperfund-and-associated-cases"}]},"v":1}