HyperVerse Promoter Arrested for Fraud
In a significant move by U.S. authorities, Rodney Burton, a key promoter of the cryptocurrency venture HyperVerse, has been detained on accusations of conducting a fraud scheme exceeding $7 million. According to the U.S. Tax Service’s filings, he masterminded a financial pyramid masquerading as a crypto investment opportunity.
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In a significant move by U.S. authorities, Rodney Burton, a key promoter of the cryptocurrency venture HyperVerse, has been detained on accusations of conducting a fraud scheme exceeding $7 million. According to the U.S. Tax Service's filings, he masterminded a financial pyramid masquerading as a crypto investment opportunity.
During his presentations, Rodney portrayed the company as a non-corporate investment entity, promising clients a consistent, risk-free average daily return ranging from 0.5% to 1%. This scheme was intended to continue until the investors' funds doubled or tripled.
Since 2020, over the span of several years, he managed to amass investments worth $7.85 million from individual investors via bank transfers and checks. Moreover, the company's activities extended to other countries, notably Australia, which attracted scrutiny and disapproval from the Australian finance minister.
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