US prosecutors have charged Rodney Burton, known as Bitcoin Rodney, with fraud and money laundering in connection with the $1.8 billion HyperFund scheme. Burton, 56, allegedly promised investors daily returns while diverting funds into luxury assets. The scheme, which operated from 2020 to 2024, collapsed amid market shifts, leading to withdrawal freezes. Burton was arrested at Miami Airport in January 2024 and faces up to 30 years in prison if convicted.
In a related case, a promoter of the Forcount scheme was sentenced to 20 years in prison and ordered to pay $3.6 million in compensation. This highlights the ongoing crackdown on fraudulent crypto schemes by US authorities.
US Charges HyperFund Promoter with Fraud and Money Laundering
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
