Local media are reporting HyperFund is under regulatory investigation in India.
In a
September 18th report
, The Economic Times claims
agencies responsible to check financial fraud are watching a company called Hyper Fund.
Citing unnamed sources, The Economic Times states complaints from disgruntled HyperFund affiliate investors have “started pouring in (from) several states”.
India is the second jurisdiction to launch an investigation into HyperFund.
The UK’s FCA issued a
HyperFund securities fraud warning
back in April.
BehindMLM
reviewed HyperFund
that same month. We noted it was a continuation of the collapsed
HyperCapital
Ponzi scheme.
Both HyperFund and HyperCapital are part of owner Ryan Xu’s HyperTech Group Ponzi empire.
Xu’s current whereabouts are unknown.
Alexa currently ranks top sources of traffic to HyperFund’s website as the US (28%), the UK (11%) and Canada (11%).
🤖 Quick Answer
What is HyperFund under investigation for in India?Indian regulatory agencies are investigating HyperFund for financial fraud following complaints from disgruntled affiliate investors across multiple states, according to The Economic Times report from September 18th.
Why is HyperFund considered a fraudulent scheme?
HyperFund is identified as a continuation of the collapsed HyperCapital Ponzi scheme, both owned by Ryan Xu and part of his HyperTech Group Ponzi empire, according to BehindMLM analysis.
Which regulatory bodies have taken action against HyperFund?
India's financial fraud regulatory agencies launched an investigation, and the UK's Financial Conduct Authority issued a securities fraud warning against HyperFund in April 2024.
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