Kalpesh Patel is the most successful con artist in the year 2022. He is a citizen of the United Kingdom and currently resides in Dubai. He is a professional con artist who is always putting the money he made from his prior cons into his new cons. He does this over and over again.
His most recent con was none other than the notorious one known as Hyperfund – Hyperverse, for which he was the leading promoter. It was a swindle that cost 500 million dollars!
More than a decade has passed since Kalpesh began his career as a money launderer, con artist, and fraudster. Because of his extensive experience in deceiving others, he is able to design particular techniques and plans that ultimately result in the duping of hundreds of thousands of individuals.
Sentenced To 12 Months In Prison In the UK
In the United Kingdom, he was found guilty of defrauding the government of $15 million and received a sentence of one year in prison.
Along with Kalpesh Patel, there were 14 other people charged with the crime. The NHS trusts and even the Guernsey government were taken advantage of in the scheme.
This con was active from January 2011 through July of the following year. Con artists perpetrated the fraud by posing as legitimate construction companies and supplying fraudulent bank information for payment.
Following an investigation by the Economic Crime Unit of the Lincolnshire Police, charges were brought against them.
The probe was known by its code name, Tarlac Operation. In September 2011, when the Lincolnshire Partnership NHS Foundation Trust was a victim of this theft, it prompted the establishment of this organization.
As a result of additional investigation, nine individuals were charged with conspiring to defraud between the 1st of January 2011 and the 31st of July 2012.
Here are the names of these nine people:
- Oluwatoyin Allison (London, England, 48)
- Arif Habib (54, Glasgow)
- Asif Habib (51, Dubai)
- Imtiaz Khoda (42, Dubai)
- Mohammad Nadeem, age 31, from Worcester,
- Abdul Naeem (33, Worcester)
- Kalpesh Patel (43, Dubai)
- Monica Thomson (age 38, from Scotland’s Airdrie)
- Stephen Tyndale (London, age 45)
- Five more people were also charged with plotting to wash stolen money. These five people were:
- Abdul Ghaffar (66, Worcester)
- Tariq Khan (33, Dubai)
- Zahid Muhammed (46, Glasgow)
- Shazia Nisa (33, West Midlands)
- Yagnesh Patel is 44 and from Middlesex.
- The 15th and last suspect was a 41-year-old man from Preston named Oghogho Ehnire. He was charged with one crime: agreeing to help launder money from criminals.
The $15 Million Scam by Kalpesh Patel
Lincolnshire Police looked into Kalpesh Patel in February 2015 after he was accused of theft and money laundering for £12 million.
Later, he was accused of money laundering and theft and was tried at the Leicester Crown Court. From October 2016 to December 2016, the trial went on.
The Crown Court put a hold on Kalpesh Patel’s property while the criminal case was going on. And Kalpesh did not follow that order, yes.
In March 2017, he was given a term of one year in prison and a fine of £330,000.
Kalpesh Patel’s Illegal Cash Cow, Hyperfund
More than 51,000 financial services companies and markets are regulated by the UK Financial Conduct Authority, which is also known as the FCA. The FCA told people on December 10, 2021, not to put money into Hyperfund and Hyperverse.
Zijing (Ryan) Xu started Hyperfund, which is also known as Hypertech and HyperCapital.
EarlyBird Academy: App Marketing Scam By Kalpesh Patel
EarlyBird Academy focused on the niche market of financial services. This business was run by Kalpesh Patel as its CEO.
Like his other businesses, EarlyBird Academy paid people back through a Ponzi scam.
It had no services or goods that could be sold. Affiliates could only sell EarlyBird Academy memberships and get paid for doing so. The way it paid people, though, was like a pyramid scheme.
Zeek Rewards – $600 Million Ponzi Scheme USA Shut Down By SEC
On August 17, 2012, the Securities and Exchange Commission charged ZeekRewards with theft and froze its assets. A Ponzi plan with $600 million was about to fall apart. Because the SEC moved quickly, the victims were able to get back more of their money and might have escaped life-changing losses.
Paul Burks, an online salesman, and his company, Rex Venture Group, were also part of the scam. They were said to have used ZeekRewards to get money from more than 1 million online users in the US and other countries.
Kalpesh Patel took $140,842 from Zeek Rewards users.
Here is where you can read the SEC’s written complaint against ZeekRewards.com:
University of Success
Kalpesh Patel also came up with the idea for Success University. He said that he loves to make a difference in people’s lives. He talked about Success Uni as a “network marketing opportunity” and showed off his black Mercedes.
To join the University, you had to pay $149.95. After that, you had to pay $25 a month to “attend” the university.
The buyer could then try to get their friends and family to join the university. For every new member, the buyer would get $5.
Kalpesh said that this University was home to more than 2,500 “premium students” When reporters asked him about how Success University’s payment plan looked like a Pyramid scheme, he just said, “No comments.” And he left in a mad way.
In 2008, Mirror did a great story about Success University. If you want to learn more about the scam, you can read it here.
