$2 Billion Crypto Fraud Bitconnect and Founder Charged — Director Pleads Guil...
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 ever charged criminally,” said the U.S. Department of Justice (DOJ). US Authorities Take Action Against Bitconnect and Its Founder U.S. authorities continue to take action against the fraudulent crypto trading scheme Bitconnect and its executives this week. “The Bitconnect....
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It will just be a matter of time until authorities catch up on BitConnect founder Satish Kumbhani and face the charges against him. Kumbhani was accused by a US federal grand jury for orchestrating a $2.4 billion bitcoin Ponzi scam. He was charged with wire fraud, commodities price manipulation, operating an unregistered money transmitting business. […]
Former director and promoter of the BitConnect Ponzi scheme, Glenn Arcaro, pled guilty on Wednesday in federal court to fraud charges. His participation in a massive conspiracy involving the crypto exchange defrauded investors of over $2 billion. The United States Department of Justice, Southern District of California, published this announcement on Wednesday, September 1, 2021. This case […]
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. Former director and promoter of the notorious Bitconnect Ponzi scheme, Glenn Arcaro, has pled guilty to fraud charges related to his role in the now-defunct crypto exchange and lending platformHe has been ordered to pay back $24 million to investors.In a parallel action in the long-running saga the United States Securities and Exchange Commission (SEC) has charged Bitconnect, its founder Satish Kumbhani, former director Arcaro, and Future....
BitConnect founder is being sued for illegally raising funds and defrauding American investors of over $2 billion. Indicted by the United States Department of Justice in a $2.4 billion Ponzi scheme, BitConnect founder Satish Kumbhani remains untraced following conviction.In a court filing on Monday, the Securities and Exchange Commission said that the whereabouts of Kumbhani remains unknown. The SEC noted that Kumbhani’s last known location was in his native country India, but has remained untraced ever since the promoter for his BitConnect Ponzi scheme was charged by the SEC for....
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 The U.S. Department of Justice (DOJ) announced […]