BitConnect Financial News
15.07 / 11:54
Provident
Man
Platform
security
BitConnect
ASIC
Courts
Australian Court Charges Former Promoter of Crypto Ponzi Scheme BitConnect
The Sydney District Court has convicted the man behind the promotion of the now-defunct crypto exchange platform BitConnect. According to the nation’s corporate regulator, he was accused of providing unlicensed financial advice.
03.10 / 03:49
Cooper
CEO
Platform
Strategy
Southern
BitConnect
Experts
Sam
Legal Experts Weigh In: Sam Bankman-Fried's Limited Defense Options Revealed
With former FTX boss Sam Bankman Fried's (SBF)’s first day in court fast approaching, experts say his paths to acquittal are looking quite scant.
18.08 / 18:07
01.03 / 19:29
Digital
SEC
Action
BitConnect
‘Missing’ BitConnect founder presents more questions than answers for SEC
BitConnect founder Satish Kumbhani has reportedly disappeared from India, according to a Bloomberg report which cited local officials. The exchange founder was just indicted for orchestrating a Ponzi scheme by federal prosecutors.
01.03 / 08:19
SEC
Platform
BitConnect
BitConnect's Indicted Founder Satish Kumbhani Has Disappeared: Report
Last September, the U.S. market regulator had sued Satish Kumbhani.
27.02 / 12:37
cryptocurrency
BitConnect
Indian
fraud case
Satish Kumbhani, Indian founder of BitConnect, indicted by US in $2.4 billion crypto fraud case
The founder of cryptocurrency investment platform BitConnect, an Indian national, has been indicted on charges of orchestrating a global Ponzi scheme worth USD 2.4 billion, federal prosecutors said.
27.02 / 06:59
BitConnect
us sec
BitConnect's Satish Kumbhani charged by US in $2.4 billion Ponzi scam
BitConnect founder Satish Kumbhani was indicted by a US grand jury on charges he orchestrated a global Ponzi scheme that raised $2.4 billion from investors in a fraudulent cryptocurrency investment platform, according to a Justice Department statement. Kumbhani, 36, was charged in San Diego with misleading investors about BitConnect’s purported propriety technology, which falsely promised returns based on phony “volatility software” that tracked cryptocurrency exchange markets, prosecutors said Friday. BitConnect used money from new investors to pay earlier ones and also operated as an unlicensed money transmitting business, the US said.
23.02 / 08:05
Blockchain
Fraud
Court
BitConnect
class action
Appellate court decision allows Bitconnect class action to proceed
The 11th Circuit Court of Appeals has ruled that victims of the Bitconnect Ponzi scheme can proceed with a class action suit by reversing a previous ruling that prohibited such a case.
17.11 / 10:39
BitConnect
US judge orders liquidation of $56m in cryptos seized in BitConnect investigation
A judge agreed to a request from US authorities to liquidate roughly $56m in proceeds seized from a US promoter of offshore company BitConnect, which allegedly conducted one of the biggest scams ever involving cryptocurrencies.
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