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 US$1.89bn (A$2.86bn).
The US attorney for the district of Maryland, Erek L Barron said the Department of Justice would “hold perpetrators accountable for these and other fraud schemes”, with Lee facing up to five years in jail if convicted.
