<100 subscribers
Federal prosecutors in Maryland have charged "Bitcoin Rodney" (Rodney Burton), "Bitcoin Beautee" (Brenda Chunga), and Sam Lee with orchestrating a $1.89 billion cryptocurrency Ponzi scheme. Burton, arrested while attempting to leave the U.S. for the UAE, faces charges related to operating an unlicensed money transmitting business. https://www.justice.gov/usao-md/pr/three-individuals-charged-189-billion-cryptocurrency-fraud-scheme
Chunga has pleaded guilty, while Lee remains at large, believed to be in Dubai. The scheme involved the now-defunct HyperFund, which falsely promised investors up to 1% daily returns from nonexistent cryptocurrency mining operations.
Investors were misled into converting their money into an internal currency, with the operation funded entirely by new investments in a classic Ponzi setup. Chunga, the scheme's U.S. face, received over $3.7 million from investors. Burton's lavish lifestyle, funded by the scheme, included yachts and luxury cars, while Lee's involvement left his company, Blockchain Global, owing $58 million.
DeFi Defense Lawyer