‘Bitcoin Rodney’ faces decades in prison as feds add wire fraud to HyperFund charges
Crypto promoter Rodney Burton, known as 'Bitcoin Rodney,' faces expanded federal charges including wire fraud for his role in the $1.8 billion HyperFund scheme.Summary
Rodney Burton, 56, known online as "Bitcoin Rodney," faces significantly increased federal charges in connection with the alleged $1.8 billion HyperFund cryptocurrency scheme. A superseding indictment adds conspiracy to commit wire fraud and wire fraud counts to the original charges, potentially leading to decades in prison if convicted on all counts, which also include money laundering and operating an unlicensed money transmitting business. Burton was arrested in January 2024 attempting to leave the U.S. and has been detained as an extreme flight risk. Prosecutors allege that HyperFund, which promised high daily returns, was a fraudulent operation that blocked withdrawals starting in 2021, with Burton allegedly using investor funds for luxury purchases. Burton has claimed he was deceived by co-founder Xue Lee (Sam Lee), who remains at large, while another promoter, Brenda Chunga, has pleaded guilty. Burton's trial is scheduled for March of next year.
(Source：The Block)