Bitcoin Rodney Hit with 11 Federal Charges in Growing HyperFund Fraud Investigation

Expanded Charges Against Rodney Burton: Federal prosecutors have added new criminal counts against Rodney Burton, also known as "Bitcoin Rodney," related to the alleged $1.8 billion HyperFund Ponzi scheme, now facing 11 charges including conspiracy to commit wire fraud and money laundering.

Allegations of Fraudulent Activities: The indictment claims Burton and co-conspirators promoted HyperFund as a high-yield crypto investment, which turned out to be fraudulent, blocking investor withdrawals since 2021, while Burton allegedly collected over $7.85 million for personal luxury expenses.

Legal Defense and Co-defendant's Plea: Burton's legal team argues he was misled and believed he was operating legitimately, while co-defendant Brenda Chunga has already pleaded guilty to related charges, and alleged co-founder Sam Lee remains at large.

Severe Potential Sentences: If convicted, Burton faces significant prison time, with potential sentences of up to 20 years for wire fraud and conspiracy, highlighting the legal risks associated with unregistered crypto investment schemes.