Good afternoon. The Australian blockchain entrepreneur Sam Lee has been charged with conspiracy to commit fraud in the US for his alleged role in operating the HyperVerse crypto investment schemes, described in court documents as a “pyramid and Ponzi scheme” alleged to have defrauded investors of close to A$3bn.
The charges come after a Guardian Australia investigation revealed details of the scheme’s operation, including widespread investor losses, the use of a fake chief executive officer for the launch of the HyperVerse scheme and HyperVerse’s links to the collapsed Australian crypto company Blockchain Global, of which Lee was a director.
