Connect with us
MARE BALTICUM Gaming & TECH Summit 2024


US crypto entrepreneur arrested in Dubai alleges torture by police




An American cryptocurrency entrepreneur embroiled in a legal dispute with Sam Lee, the CEO of the defunct crypto fund HyperVerse, has been detained in Dubai and alleges that police subjected him to torture to extract a false confession, according to revelations by the Guardian.

Edel Hsieh, a 43-year-old from California, was initially arrested in March at Dubai’s airport while attempting to travel to London. During his interrogation, he claims to have been physically assaulted by the police.

In a recorded jail call obtained by the Guardian, Hsieh recounted the harrowing experience, describing instances of physical abuse, including threats of sexual violence against him and his wife. He alleges that police demanded money from him during the interrogation.

His detention stems from a legal complaint filed by one of his business partners, besides Lee, accusing him of theft. Hsieh’s wife believes this complaint led to his arrest, as financial disputes in Dubai can result in criminal charges.

Hsieh has been held at Al Barsha jail in Dubai for two months, with deteriorating conditions and health issues. Despite the severity of his situation, the US consulate in Dubai has indicated its inability to intervene on his behalf.

His ordeal began with his involvement in Fomodex, a cryptocurrency exchange company developed in Dubai in 2021, along with Lee and another partner. Disagreements arose over business practices, leading Hsieh to demand a refund of his investment from Lee, which eventually resulted in legal action. However, Lee denies being Hsieh’s business partner and asserts that he only provided advice.

Meanwhile, Lee faces charges in the US for his alleged involvement in the HyperVerse scheme, which authorities have labeled a multi-billion-dollar pyramid and Ponzi scheme. Despite these allegations, Lee denies any wrongdoing.

Hsieh’s detention underscores the challenges faced by foreigners in Dubai’s legal system, with allegations of abuse and torture being common among detainees. The UAE has positioned itself as a global cryptocurrency hub, but concerns persist about the treatment of individuals involved in legal disputes.

As Hsieh’s wife fears for his well-being and hopes for his release, the broader implications of his case highlight the complexities of navigating legal disputes and the criminal justice system in Dubai, especially concerning financial matters and cryptocurrency-related activities.


The post US crypto entrepreneur arrested in Dubai alleges torture by police appeared first on HIPTHER Alerts.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


Decentralized Finance (DeFi) Market to Surpass USD 446.43 Billion by 2031 | SkyQuest Technology



Continue Reading


Merging Traditions with Fintech and Blockchain Innovations





Financial Evolution: Merging Traditions with Fintech and Blockchain Innovations at MARE BALTICUM Gaming & TECH Summit

The financial industry is undergoing a seismic shift as fintech and blockchain technologies pave the way for unprecedented innovation and transformation. At the upcoming MARE BALTICUM Gaming & TECH Summit, a high-profile panel titled “Financial Evolution: Merging Traditions with Fintech and Blockchain Innovations” will delve deep into this exciting evolution. This session will explore how established financial institutions are integrating these advanced technologies to revolutionize services, enhance security, and increase efficiency.

Moderator: Anna Agu

Leading the panel is Anna Agu, CEO and Managing Partner at Lex Law Office OU and Director at Lex Law Office LT UAB. With her extensive legal expertise in the fintech sector, Agu is perfectly positioned to guide the discussion, ensuring a thorough exploration of the delicate balance between maintaining traditional financial principles and embracing innovative technologies.


  • Merit Leib – Compliance Consultant at LEIB Regulatory & Compliance Risk Consulting
  • Astra Tikas – Founding Board Member of INO (Internet Native Organization)
  • Dr. Dean Rakic – Chief Scientist at Blockcontrol
  • Saulius Racevicius – Senior Associate of PSP Lab LLP and Board Member of the Fintech Hub LT
  • Evaldas Krampas – CEO at SpectroCoin and Head of Crypto Hub Lithuania

Why Attend?

The “Financial Evolution: Merging Traditions with Fintech and Blockchain Innovations” panel at the MARE BALTICUM Gaming & TECH Summit is a must-attend for professionals across the financial sector. Here’s why:

  1. Gain Comprehensive Insights: Learn from top experts about the latest trends, challenges, and opportunities in fintech and blockchain.
  2. Regulatory Perspectives: Understand the importance of compliance and how to navigate regulatory challenges effectively.
  3. Technical Knowledge: Dive deep into the technical aspects of blockchain integration and learn about cutting-edge developments.
  4. Practical Implementation: Gain practical insights into how traditional financial institutions are successfully integrating new technologies.
  5. Networking Opportunities: Connect with industry leaders and peers who are driving innovation in finance.

Join Us

This panel provides a unique opportunity to stay ahead of the curve in the rapidly evolving financial landscape. Join us at the MARE BALTICUM Gaming & TECH Summit to explore how fintech and blockchain technologies are reshaping finance and what it means for the future. Engage with industry leaders, gain actionable insights, and network with peers at the forefront of financial innovation.

Secure your spot today and be part of this transformational journey. Don’t miss the chance to be involved in discussions that will shape the future of finance. See you at the MARE BALTICUM Gaming & TECH Summit!

The post Merging Traditions with Fintech and Blockchain Innovations appeared first on HIPTHER Alerts.

Continue Reading


North America B2C E-Commerce Market & Payment Innovation Trends Report 2024 – By 2025, Digital Wallets are Expected to Make Up Over a Quarter of Canada’s Online Payments



Continue Reading

Latest News

Recent Listings

  • Global Payout, Inc.

    Since the Company’s inception in 2009, Global Payout, Inc. has been a leading provider of compreh...

  • MTrac Tech Corp.

    MTrac Tech Corporation, a Nevada Corporation, is a privately held, wholly owned subsidiary of Glo...

  • Net1

    Net1 is a leading provider of transaction processing services, financial inclusion products ...

  • uBUCK Technologies SEZC

    Based in Georgetown, Cayman Islands, uBUCK Tech is a fintech enterprise that specializes in digit...

  • LiteLink Technologies Inc.

      LiteLink is a major player in developing world-class enterprise platforms that utilize ar...

  • Good Gamer Corp.

      Good Gamer Corp. is a privately-held technology company focusing on gamers and streamers....

  • BitPay

      Founded in 2011, BitPay pioneered blockchain payment processing with the mission of trans...

  • About Net1

      Net1 is a leading provider of transaction processing services, financial inclusion produc...

  • Blockchain Foundry Inc.

    Headquartered in Toronto, Canada, Blockchain Foundry (CSE:BCFN)(FWB:8BF)(OTC:BLFDF) is a global b...

  • Sixgill

    Sixgill provides a full suite of universal data automation and authenticity products and services...

Trending on TBE