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Category: Bitconnect
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800 victims of ‘massive’ Bitconnect fraud to receive $17M restitution
The millions will be distributed among the select number of victims, but thousands more were impacted by the $2.4 billion fraudulent scheme.
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US Sentences Promoter of $3.4B Bitconnect Crypto Ponzi Scheme to 38 Months in Prison
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Indian Police Search for Bitconnect Founder After the US Indicted Him for Defrauding Crypto Investors
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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.
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Feds Seize $34 Million in Crypto From Unidentified Florida Man
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SEC unable to locate BitConnect founder convicted in $2.4B fraud case
BitConnect founder is being sued for illegally raising funds and defrauding American investors of over $2 billion.
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US Charges Indian Citizen in $3.4 Billion Crypto Ponzi Scheme Bitconnect
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DOJ indicts BitConnect’s Indian founder for $2.4B crypto Ponzi scheme
A San Diego-based federal grand jury charged Kumbhani for orchestrating an alleged Ponzi scheme via BitConnect’s “Lending Program” among other allegations.
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Appellate court decision allows Bitconnect class action to proceed
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.
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