According to Odaily, the UK government has officially closed the Amey Finance Academy, a cryptocurrency institution. The founder of the academy is accused of persuasively encouraging people to participate in loss-making investment schemes, including an alleged $1.7 billion crypto 'Ponzi scheme' HyperFund, later renamed HyperVerse. Desmond Amey, the sole director and shareholder of the academy, is accused of making misleading promises to clients, leading to some losing all their invested funds.
WhatsApp messages seen by investigators show that Amey assured a client that their investment was '100% certain' and asked him to 'trust me, brother.' He also told another client that their investment would not fall below 90%, but they eventually lost all their funds. Due to a lack of transparency and reliable accounting records, the Insolvency Service could not determine the real relationship between Amey Finance Academy and HyperVerse, leading to the UK High Court issuing a winding-up order against the company on April 30.
Amey Finance Academy was established in December 2018. Between October 2019 and March 2022, approximately $6.3 million (about £5 million) was transferred through its bank account. However, the company's assets and liabilities could not be determined.
