Aussie crypto entrepreneur Sam Lee calls fraud charges ‘embarrassing’

Australian crypto entrepreneur Sam Lee has labelled fraud charges against him as “embarrassing” for the US Securities and Exchange Commission and rejected allegations he was the promotor of a scheme that allegedly defrauded investors out of $US1.89 billion ($2.86 billion).

Mr Lee, who has previously faced bankruptcy in Melbourne and was once dubbed the “crown prince of bitcoin”, was this week charged with conspiracy to commit fraud in the US through a crypto investment scheme called HyperFund.