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BitConnect Founder Indicted in $2.4B Ponzi Scheme Has Disappeared
1.3.2022
Attorneys said efforts to locate the convicted founder could remain unfruitful
US Charges Indian Citizen in $3.4 Billion Crypto Ponzi Scheme Bitconnect
27.2.2022
The founder of the $3.4 billion crypto Ponzi scheme Bitconnect has been charged in the United States. “If convicted of all counts, he faces a maximum total penalty of 70 years in prison,” said the U.S. Department of Justice. Bitconnect’s Founder Could Go to Prison for 70 Years...
DOJ indicts BitConnect’s Indian founder for $2.4B crypto Ponzi scheme
26.2.2022
A San Diego-based federal grand jury charged Kumbhani for orchestrating an alleged Ponzi scheme via BitConnect’s “Lending Program” among other allegations
US Justice Department Indicts BitConnect Founder
26.2.2022
Appellate court decision allows Bitconnect class action to proceed
23.2.2022
The superior court has reversed a lower court’s decision, making it possible for a class action to proceed against the promoters of one of crypto’s most infamous scams
ECB Should Learn From Florida, Solana's Opera, IOTA Assembles USD 100M, Gemini Down + More News
10.12.2021
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: ECB Should Learn From Florida, Solana's Opera, IOTA Assembles USD 100M, Gemini Down + More News
Crypto Gift Plans, Bitcoin Goes Baseball, SEC vs. BlockFi + More news
17.11.2021
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________ ...
Read More: Crypto Gift Plans, Bitcoin Goes Baseball, SEC vs. BlockFi + More news
DOJ Selling Cryptocurrency Seized From Bitconnect Worth $56 Million
16.11.2021
The U.S. Department of Justice (DOJ) is selling cryptocurrency worth $56 million that was seized from the “number one promoter” of Bitconnect, the largest crypto fraud scheme ever charged criminally. Investors were fraudulently induced to invest over $2 billion. The Bitconnect...
US Justice Dept is selling $56M in crypto to compensate victims of BitConnect’s fraud
16.11.2021
“This liquidation is the largest single recovery of a cryptocurrency fraud by the United States to date,” said the Justice Department
Crypto Scams that Rocked Asia to the Core, Part 1: BitConnect
28.10.2021
The rise of crypto has brought along a pretty unpleasant and unwanted passenger. As bitcoin (BTC) and major altcoins have had their time in the sun, an unsavory customer has tagged along for the ride – the crypto scammer.
After the very early years of crypto, Asia became the first real center...
$2 Billion Crypto Fraud Bitconnect and Founder Charged — Director Pleads Guilty to Criminal Charges
3.9.2021
The $2 billion crypto fraud scheme Bitconnect and its founder have been charged in the U.S. In a parallel enforcement action, a Bitconnect director and top promoter has pleaded guilty to criminal charges in the U.S. “The Bitconnect scheme is believed to be the largest cryptocurrency fraud...
SEC Hits BitConnect Founders, Promoters with Fresh Fraud Wrap
2.9.2021
The US Securities and Exchange Commission (SEC) has dredged up the ghost of the discredited crypto scam BitConnect, and will look to prosecute its alleged masterminds for selling fraudulent and unregistered securities – amounting to a total of USD 2bn.
The SEC issued a notice explaining that it...
Bitconnect promoter pleads guilty over Ponzi scheme, as platform faces new SEC charges
2.9.2021
Former BitConnect promoter Glenn Arcaro has pled guilty to his role in the saga, but the whereabouts of the firm’s founder Satish Kumbhani is unknown
SEC Readies to Settle with BitConnect Promoters - Judge
8.7.2021
The US Securities and Exchange Commission (SEC) is expected to settle with the promotors of the infamous BitConnect exchange who had helped the platform raise more than USD 2bn through their YouTube videos.
US Judge John G. Koeltl has announced he would likely sign off in the coming days...
SEC closes in on settlements with US BitConnect promoters for millions
8.7.2021
Four of six U.S.-based promoters of the notorious BitConnect Ponzi scheme have reached settlement agreements with the SEC
S.E.C. charges 5 for illegally promoting $2 billion Bitconnect Ponzi
28.5.2021
The S.E.C. says five individuals "promoted a global unregistered digital asset securities offering."
Alleged Promoter of BitConnect Crypto Scam Charged in Australia
18.11.2020
The accused faces a lengthy prison sentence if convicted
Charged Aussie Bitconnect promoter faces up to 47 years in prison
18.11.2020
The Australian could be 99-years old by the time he is released if he’s sentenced to the maximum penalty
South African Regulator Raids Home of Key Members of an Alleged Crypto Ponzi Scheme
27.10.2020
A South African regulator along with the country’s police have reportedly seized electronics devices and computers belonging to two principal members of Mirror Trading International (MTI), an alleged bitcoin Ponzi scheme. The raid at Clynton and Cheri Marks’ home on October 26...
Australian Financial Watchdog Bans Local BitConnect Promoter for 7 Years
7.9.2020
The Australian man was banned from working in financial services by the Australian Securities and Investment Commission