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A Gujarat-based man, Shailesh Babulal Bhatt, was arrested under the anti-money laundering law in connection with kidnapping and extortion cases, including a significant cryptocurrency-related crime exceeding Rs 1,200 crore ($144…
John Bigatton, the Australian promoter of Bitconnect, has been convicted by the Sydney District Court for providing unlicensed financial advice, violating section 911B(1) of the Corporations Act 2001, the Australian…
More than $17 million in restitution will be distributed among investors in the pyramid scheme Bitconnect under a court order in the United States. The notorious crypto investment scheme defrauded…
The U.S. has sentenced a Los Angeles man to 38 months in federal prison for his role in the $3.4 billion Bitconnect crypto Ponzi scheme. He admitted to earning no…
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,…
On April 4, 2022, the Department of Justice (DOJ) and the U.S. Attorney’s Office of South Florida revealed that law enforcement seized $34 million in crypto assets from an unidentified…
BitConnect founder is being sued for illegally raising funds and defrauding American investors of over $2 billion.
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…
A San Diego-based federal grand jury charged Kumbhani for orchestrating an alleged Ponzi scheme via BitConnect’s “Lending Program” among other allegations.
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.