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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 promoter faces a maximum penalty of 20 years in prison. US Selling Crypto Worth […]Powered by WPeMatico
“This liquidation is the largest single recovery of a cryptocurrency fraud by the United States to date,” said the Justice Department.
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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 […]Powered by WPeMatico
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.
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Four of six U.S.-based promoters of the notorious BitConnect Ponzi scheme have reached settlement agreements with the SEC.
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The Australian could be 99-years old by the time he is released if he’s sentenced to the maximum penalty.
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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 was conducted by Financial Sector Conduct Authority (FSCA) officials who are looking for […]
The post South African Regulator Raids Home of Key Members of an Alleged Crypto Ponzi Scheme appeared first on Bitcoin News.
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John Bigatton has been barred from providing financial services in Australia for seven years for his involvement with the BitConnect Ponzi scheme.
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In the past week, reports emerged that some key members of the Onecoin scam were found dead in Mexico. According to reports, the two Oscar Brito Ibarra and Ignacio Ibarra may have been kidnapped and murdered but the motives behind their murder is unclear. Onecoin is one of the biggest cryptocurrency Ponzi schemes that creamed […]
The post How Billion-Dollar Crypto Scams Lure Victims appeared first on Bitcoin News.
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Fraudsters are getting increasingly creative. Here are the common scams facing crypto consumers, and the novel approaches being used to stop them #Sponsored
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