SEC Charges Crypto Fund Founders in Nearly $2B Fraud
The regulator alleges the now-defunct HyperFund was a ‘pyramid and a Ponzi scheme.’
The regulator alleges the now-defunct HyperFund was a ‘pyramid and a Ponzi scheme.’
CEO Manish Lachwani allegedly falsely inflated the software firm’s revenue by $800 million.
The regulator gave $564 million to 108 tipsters, while distributing $521 million to harmed investors.