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Securities Fraud

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'Bitcoin Beautee' In MD Admits To Role In $1.89B Cryptocurrency Fraud Scheme 'Bitcoin Beautee' In MD Admits To Role In $1.89B Cryptocurrency Fraud Scheme
'Bitcoin Beautee' In MD Admits To Role In $1.89B Cryptocurrency Fraud Scheme A Maryland woman went under the name of “Bitcoin Beautee” during her role alongside two others in a Cryptocurrency fraud scheme that netted more than $1.89 billion, she admitted in US District Court on Monday, Jan. 29. Brenda Chunga, 43, of Severna Park, pleaded guilty to conspiracy to commit securities fraud and wire fraud for her role as a promoter of HyperFund, also known as HyperTech, HyperCapital, HyperVerse, and HyperNation, US Attorney Erek Barron announced. The plea came just four days after a federal grand jury returned an indictment charging Sam Lee, 35, an Australian citizen…

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by Valerie Musson
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Maryland 'Pastor' Convicted For Targeting Religious Investors In $28 Million Ponzi Scheme Maryland 'Pastor' Convicted For Targeting Religious Investors In $28 Million Ponzi Scheme
Maryland 'Pastor' Convicted For Targeting Religious Investors In $28 Million Ponzi Scheme A Maryland man has been convicted of operating a $28 million Ponzi scheme that promised victims personal wealth and financial freedom, authorities announce. Arley Ray Johnson, 63, convinced victims to invest in the company "1st Million", by holding promotional events at upscale hotels and event spaces, attending church-sponsored events, intending to target investments from churchgoers, and representing themselves as religious men more interested in the financial freedom of others than personal financial gain, according to the Department of Justice. Johnson and co-defendants Dennis Mbongeni …

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by Annie DeVoe