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The United Kingdom’s Financial Conduct Authority has issued Hyperverse its first securities fraud notice.

The FCA was the first authority to identify HyperFund’s fraudulent activity.

In March 2021, the FCA recognized HyperFund as a “company offering financial services or products in the United Kingdom without our authorization.”

The FCA’s original notice referenced the marketing website of a HyperFund subsidiary. In September 2021, HyperFund’s official website was added to the securities scam alert.

This month, HyperFund folded and was relaunched as Hyperverse.

The FCA added Hyperverse to their HyperFund securities fraud alert on December 12th.

Kalpesh Patel, the putative top net-winner of HyperFund and Hyperverse, is from the United Kingdom.

Patel has promoted MLM frauds for more than a decade. The greatest Ponzi scam he was into to date is Zeek Rewards.

Since then, Patel has escaped to Dubai. Back in the UK and India, he continues to market scams to a predominantly Hindi-speaking audience.

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