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Superscam Returns: Kalpesh Patel is back with a crypto nightmare called Hyperverse.

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It’s been a long time since I first encountered Kapesh Patel and the site is still black and white.

Back in 2008, I talked about how he ran something called Success University, which I count as his fourth get-rich-quick scheme.

He asserted it was an innocent network marketing company, even if the main source of income appeared to be commissions to get others to join, and warned me: “I could turn nasty. .”

May? Was he ever what?

I went to a Success College recruiting session in London and asked another promoter if it was a pyramid scam, at which point Patel yelled, “Just say no comment.”

No comment was what I came up with when I reviewed the download of the latest scent he was shoveling, something called the Hyperverse.

This points to all sorts of problems about a decentralized finance platform that uses blockchain technology to build a metaverse ecosystem with its own cryptocurrency and the prospect of “huge profits.”

Its website states: “You can trade on the most popular decentralized platform in the metaverse, earning your proprietary cryptocurrency – Hyperverse Token.”

“Only one direction, to the top!” Patel responded in an online video interview with Hyperverse founder Ryan Xu.







Kalpesh Patel with Ryan Xu
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Image:

Facebook)

I first heard about Hyperverse from someone describing how a persistent friend tried to recruit him with the unlikely promise of a 300% return on his investment.

“They encourage hiring others to make more money and encourage them to reinvest rather than withdraw,” he said.

“Hyperverse propaganda tells the members not to let negative people get in their way, and tries to convince them to stay on the show.

“I’m desperate how people are brainwashed into this.”






Patel plugged in Cube 7, another great wheeze that sank without a trace

Currently some members are reporting online that they are unable to withdraw funds. I wanted to know if these reports were true, so I tried contacting Kalpesh “Inspired” Patel, as he styled himself modestly.

I also asked if he could explain if Hyperverse has any other source of income other than what new members pay.

And where is it incorporated and does it have any publicly audited accounts. Is Hyperverse regulated by any financial authority and if so, by which?

And, importantly, does the Hyperverse Token have any real-world value or is it just another cryptocurrency that becomes completely worthless, with the owner losing everything?







Patel admits on Facebook that even his family thinks he is promoting pyramid schemes
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Image:

Facebook)

I emailed his business and messaged him on Facebook No answer. I tried calling but his website lists an invalid number.

There was also a similar silence from another famous promoter, Des Amey’s Amey . Financial Academy in London.

This claims to exist “to share with the world the financial secrets of wealth” and its website has instructions on how to join the Hyperverse.

Amey, 41, is a humble former teacher like Patel, calling herself on her Facebook profile “a business magnate, business influencer & role model”.

My questions to him include how many people he recruited into the Hyperverse, how much money he made doing so, and whether he regrets encouraging people to put their savings down. into this program?

I left messages on his website and Facebook page, emailed and called his office answering service, but he was also shy.






Sharon James at a 2018 recruiting event for the USI-Tech disaster

As well as Sharon James, a promoter from Wigan, who I came into contact with in 2018 when she was promoting an alleged Bitcoin trading scheme called USI-Tech and boasted: “I earn as much as football players”.

USI-Tech offered 35% commission on attracting other new hires, promised 140% returns in 140 days, but investors dropped out when their website disappeared.

She also plugs Traffic monsoon online get-rich-quick disaster, online bragging as one of the highest earning women.

This is another ponzi scheme that has almost no source of income other than the money paid by its participants.

Court papers in the US show Sharon James put in around £1,500 and realized £190,000.

She said of Traffic Monsoon founder Charles Scoville: “He’s a great guy, he really has our back, so trust the man.”

Believe him? The US Securities and Exchange Commission last year ordered him to pay $2,537,642.93 in victim compensation plus a civil penalty of $2,426,749 – a total of about 3.6 million pound.






Emma Smedley with Kalpesh Patel in Dubai

Back to Hyperverse and another recruiter, Emma Smedley, who said of Patel on Facebook: “This man is a true legend and cares about everyone in his community.”

She then posted a hilarious quote that unintentionally said her bank was suspicious of her earnings and froze her account (thanks for coming to the site). behind MLM to spot this gem).

“So I was like, ‘What? Why do you need to know where my money is coming from? ‘, she wrote, and said the answer from her bank was: “Because that’s what we do, we investigate fraud.”

Another post had her say: “Just because of the profile I hate the bank blocking my transactions”.

As the behind MLM humorously says: “Smedley’s lack of understanding of financial law is commendable.”






Emma Smedley doesn’t like questions about her source of income

She also posted in December from Dubai, where key promoters including Sharon James, Patel and others gathered, calling it “a breath-taking experience surrounded by beautiful souls.” so”.

“Me and my community are incredibly excited about 2022 and what the future holds for us and about how many more people we can help realize their own freedoms. If you’re still sitting on the fence, get off! ”






Smedley’s Facebook profile has been deleted

I messaged her on Facebook hoping to discuss what exactly she’s super excited about and her response was to take her Facebook profile down.

As for the various Hyperverse sites, none of these sites have simple features such as contact email or postal addresses but only a phone number, and my efforts to obtain This detail through its online chat was fruitless.

It seems that no one is prepared to speak publicly about this supposedly great opportunity, which is unfortunate because chatting with founder Ryan Xu and chairman Sam Lee has been so helpful.

Lee has been named here as chief financial officer of the collapsed Blockchain Global and its Australian crypto exchange ACX, with creditors allegedly claiming $50 million. I have approached the administrators Pitcher’s Partner but they declined to comment.

Hyperverse was called Hyperfund until it was rebranded late last year. Both names were on a Financial Conduct Authority warning, which read: “This company is not authorized by us and is targeting people in the UK”.

“You won’t have access to the Financial Ombudsman Service or are covered by the Financial Services Compensation Program, so it’s unlikely you’ll get your money back if things don’t go your way. .”

Perhaps the biggest warning sign is this: in the field for the company’s address, the FCA says: “Don’t know.”

And that’s never a good sign.

investigation@mirror.co.uk

https://www.mirror.co.uk/news/uk-news/superscam-returns-kalpesh-patel-back-26250103 Superscam Returns: Kalpesh Patel is back with a crypto nightmare called Hyperverse.

Fry Electronics Team

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