Category: BitConnect

DOJ indicts BitConnect’s Indian founder for $2.4B crypto Ponzi scheme

DOJ indicts BitConnect’s Indian founder for $2.4B crypto Ponzi scheme

The founder of the infamous crypto exchange BitConnect, Satish Kumbhani, has been charged for allegedly misleading investors globally and defrauding them of $2.4 billion in the process. According to the Department of Justice (DOJ), a San Diego-based federal grand jury specifically charged Kumbhani for orchestrating the alleged Ponzi scheme via BitConnect’s “Lending Program”: “BitConnect operated […]

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SEC closes in on settlements with US BitConnect promoters for millions

SEC closes in on settlements with US BitConnect promoters for millions

Four of six U.S.-based promoters of the notorious BitConnect Ponzi scheme have reached settlement agreements with the SEC. 2976 Total views 22 Total shares The U.S. Securities and Exchange Commission (SEC) is nearing settlements with four U.S.-based individuals accused of promoting the multi-billion dollar crypto Ponzi scheme, BitConnect. According to Law360, the terms of the […]

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