BALTIMORE — A Severna Park lady, nicknamed “Bitcoin Beautee,” has pleaded responsible to federal wire fraud costs.
Brenda Chunga is accused of promoting and selling a phony on-line cryptocurrency funding firm referred to as HyperFund.
Prosecutors say the scheme was carried out between June 2020 and April 2022.
HyperFund was co-founded by an Australian man named Sam Lee who lives within the United Arab Emirates.
Lee and Chunga, together with others, would allegedly speak purchasers into shopping for a HyperFund membership beneath the false premise of receiving day by day returns on their funding.
Investors had been duped into believing they’d earn double or typically even triple the quantity they put in.
HyperFund lied claiming payouts can be generated from revenues of large-scale crypto mining operations, when in actuality no such factor existed.
In all of the feds say Lee, Chunga, and firm defrauded their investors of roughly $1.89 billion.
A piece of Chunga’s promotional work for HyperFund was performed in Maryland. She admitted to personally making $3 million off the conspiracy.
Chunga faces as much as five-years behind bars. Prosecutors are additionally looking for to reclaim all the cash she acquired from the scheme.
