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Guernsey has warned HyperFund about possible securities fraud.

Guernsey is one of the British Crown Dependencies, which are three islands between the UK and France.

According to the warning from the Guernsey Financial Services Commission on October 6th;

The Commission has not licensed, authorized, or regulated HyperFund in any way to provide financial services in the Bailiwick of Guernsey.

In other places, this is the same as a warning about securities fraud.

The warning from Guernsey follows alerts about HyperFund securities fraud from the UK and New Zealand.

It is said that the Ponzi scheme is also being looked into by Indian authorities.

HyperFund is a new version of the Ponzi scheme HyperCapital, which failed. Ryan Xu (also known as Zijing Xu) runs both scams under the name “HyperTech.”

Xu has connections to both Australia and south-east Asia. People think he recently ran away to Dubai.

There are a lot of MLM Ponzi schemes in Dubai. In the past few years, fraudsters from all over the world have been coming to the emirate in droves.

From Dubai, they prey on people while keeping the police at arm’s length. They have residential visas and live off of the money they stole.

The UAE’s government has shown no interest in regulating. Because of this, Dubai has become known as a place where a lot of MLM-related financial fraud happens.

BehindMLM just found out that HyperFund has started to limit withdrawals. More on that when we know for sure.

Update, October 11, 2021: BehindMLM has now confirmed that the people in charge of HyperFund have either already left for Dubai or are on their way there.

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