TechFlow News, June 17: According to the U.S. Department of Justice, Rodney “Bitcoin Rodney” Burton, a resident of Miami, Florida, pleaded guilty in federal court to participating in a cryptocurrency fraud scheme linked to HyperFund, involving approximately $1.8 billion. As disclosed by federal prosecutors in Maryland, Burton admitted to conspiring to operate an unlicensed money-transmitting business. Between June 2020 and January 2022, he promoted this Ponzi-style scheme and earned approximately $7.85 million from it.
The U.S. Department of Justice stated that the scheme raised funds globally from investors and was used to promote and facilitate fund transfers, constituting a large-scale cross-border wire fraud network. Burton faces up to five years in federal prison; his sentencing hearing is scheduled for July 23. Law enforcement authorities indicated that the case was jointly investigated by the IRS Criminal Investigation Division and the Homeland Security Investigations (HSI) unit.
