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The Guardian - AU
The Guardian - AU
Technology
Sarah Martin

Sam Lee appears in video promoting new investment scheme days after US fraud charges

Sam Lee holding bitcoin
Sam Lee’s latest video comes as the Australian government faces pressure to fast-track regulation of the cryptosphere. Photograph: YouTube/Project Frugal

Sam Lee, the Australian blockchain entrepreneur charged with conspiracy to commit fraud in the US for his alleged role in a USD$1.89bn “ponzi scheme”, has appeared in a video promoting a new investment project, posted online within days of charges being laid against him.

The revelation comes as consumer advocates say the “shocking” losses reported through the Australian-linked crypto investment scheme known as HyperVerse should serve as a “wake-up call” for urgent government action.

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