A federal grand jury in San Diego indicted the founder of the BitConnect crypto investment platform on a variety of fraud, unlicensed money transmitting and money laundering charges on Friday, almost four years after HBO’s “Last Week Tonight” host John Oliver highlighted it on a...
The swift recovery of bitcoin from its lows has seen some investors happy for a potential rebound, CoinDesk reported Friday (Feb. 25). According to the report, the rebound is likely to continue and some of the activity in the options market suggests they could be...
The U.S. Justice Department is set to begin liquidating roughly $56 million in fraud proceeds seized during its investigation into the cryptocurrency BitConnect. According to a Justice Department news release, the liquidation represents the largest ever single recovery of cryptocurrency fraud by the government. The...
The director and promoter of online crypto lending platform BitConnect has pleaded guilty for his part in allegedly defrauding retail investors of more than $2 billion, according to a press release from the Department of Justice (DOJ). Glenn Arcaro admitted that he conspired “to exploit...
March 01, 2022
Just days after a federal grand jury handed down a $2.4 billion indictment of operating a global Ponzi scheme, BitConnect founder Satish Kumbhani, 36, has apparently gone missing from his native India, Securities and Exchange Commission (SEC) attorney Richard Primoff said in a Monday (Feb. 28) filing to the federal judge in New York. An […]
February 27, 2022
The swift recovery of bitcoin from its lows has seen some investors happy for a potential rebound, CoinDesk reported Friday (Feb. 25). According to the report, the rebound is likely...
November 17, 2021
The U.S. Justice Department is set to begin liquidating roughly $56 million in fraud proceeds seized during its investigation into the cryptocurrency BitConnect. According to a Justice Department news release,...
September 01, 2021
The director and promoter of online crypto lending platform BitConnect has pleaded guilty for his part in allegedly defrauding retail investors of more than $2 billion, according to a press...
