HyperFund securities fraud warning issued by Guernsey
HyperFund has received a securities fraud warning from Guernsey.
Guernsey is one of three islands that make up the British Crown Dependencies, situated between the UK and France.
The HyperFund is not licensed, authorised or in any way regulated by the Commission for the conduct of any financial services business in the Bailiwick of Guernsey.
This is the equivalent of a securities fraud warning in other jurisdictions.
Indian authorities are also reported to be investigating the Ponzi scheme.
Xu has ties to Australia and south-east Asia. He is believed to have recently fled to Dubai.
Dubai hosts a large number of MLM Ponzi schemes. Over the past few years fraudsters from around the world have flocked to the emirate.
Armed with residential visas and living off ill-gotten gains, from Dubai they prey on victims at arm’s reach from authorities.
UAE’s own authorities have shown no interest in regulation. This has seen Dubai flourish as a notorious hotbed of MLM related financial fraud.
BehindMLM has recently been informed HyperFund has begun restricting withdrawals. More on that once we’ve confirmed.
Update 11th October 2021 – BehindMLM has now confirmed HyperFund’s executives have fled or are in the process of fleeing to Dubai.