The Department of Justice on Monday announced criminal charges against two people and the guilty plea of a third person for orchestrating a $1.9 billion cryptocurrency Ponzi fraud scheme known as HyperFund, among other names.
Lee, a 35-year-old also known as Xue Lee, is charged with a single count of conspiracy to commit securities fraud and wire fraud.
Chunga, who also is known as Bitcoin Beautee, pled guilty Monday to one count of conspiracy to commit securities fraud and wire fraud, for which she faces the same possible maximum sentence.
Chunga separately agreed to settle civil charges by the SEC for violating the anti-fraud and registration provisions of U.S. securities laws.
The SEC complaint says she received more than $3.7 million from both the HyperFund platform and from investors.
Persons:
Nicole Argentieri, Erek Barron, Sam Lee, Rodney Burton, Brenda Chunga, Lee, Xue Lee, Burton, Chunga, Beautee, HyperFund
Organizations:
U.S . Department of Justice, Washington , D.C, The, Justice, Securities, Exchange Commission, DOJ, U.S, Attorney, United Arab Emirates, SEC
Locations:
Washington ,, HyperFund, Maryland, Australian, Dubai, United Arab, Miami, Severna Park , Maryland