Indian police launch probe into BitConnect founder wanted by US SEC
The Indian police launched an investigation against BitConnect co-founder Satish Kumbhani months after the U.S. SEC said he relocated from India. The saga of BitConnect, a major cryptocurrency scam scheme, is taking another twist as one of the BitConnect co-founders is now wanted by the Indian state police.Satish Kumbhani, an Indian national and the alleged founder of the crypto Ponzi scheme BitConnect, reportedly became subject to a new police investigation in India, The Indian Express reported on Wednesday.The Pune police, operating under the Indian state Maharashtra Police, launched a....
Related News
The Indian police have launched an investigation into Bitconnect and booked its founder after a bitcoin investor reported being defrauded by the global crypto “Ponzi scheme.” According to U.S. authorities, the scheme reached a market capitalization of $3.4 billion at its peak. The founder and his co-conspirators allegedly obtained about $2.4 billion from investors.
Bitconnect’s Founder Wanted by Indian Police
The founder of Bitconnect, one of the most famous fraudulent cryptocurrency investment schemes, is wanted by the Indian police in the city of Pune,....
Delhi police are reportedly investigating a cryptocurrency exchange and its executives allegedly duping Indian investors after receiving multiple complaints. The complainants further say the company has moved office overseas without returning their investments. Police Investigate Crypto Scam After Multiple Complaints Forty-three people have filed complaints with the Delhi Police regarding a cryptocurrency investment scheme based out of Connaught Place, a financial hub in New Delhi, local news outlet Millennium Post reported this week. The Economic Offences Wing of the Delhi Police....
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 […]
According to a report from the Indian Express, authorities in the country launched an investigation against Satish Kumbhani for his alleged participation in defrauding a person out of 220 Bitcoin (BTC). Kumbhani is the founder of BitConnect, found guilty by U.S. courts of supporting a worldwide Ponzi scheme worth $2.4 billion. Related Reading: Blood On […]
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....