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A California judge has ordered $17 million in restitution to be paid out to hundreds of victims of the BitConnect Ponzi scheme, the infamous global scam that collapsed in 2018.
Satish Kumbhani, the founder of cryptocurrency investment platform BitConnect, is now being investigated in India for the multi-million dollar scam.
The post Complaint Filed Against BitConnect Founder in India Following Indictment in the US appeared...
An unidentified lawyer filed a complaint naming Kumbhani and six others saying he was defrauded of his original investment of 54 bitcoins and the returns of 166 bitcoins that he was made to reinvest into platforms between 2016 and 2021, according to...
Celsius may not have been as blatantly criminal as the infamous BitConnect pyramid scheme. But the parallels should have drawn more regulatory scrutiny.
The crypto world is no stranger to market manipulation. In fact, it’s something that happens on a regular basis. The most recent example is the story of BitConnect, which promised guaranteed returns of up to 40% per month. Of course, this was too...
A few days after the US Department of Justice announced that it has indicted BitConnect co-founder Satish Kumbhani, it has been revealed that the founder has disappeared from his country India. In the latest development, SEC attorney Richard Primoff...
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. Background Back in...
The US Department of Justice has now indicted BitConnect co-founder Satish Kumbhani, an Indian national, for running an alleged $2.4 billion Ponzi scheme. A federal grand jury in San Diego announced that BitConnect deceived investors through its...
Three years after the official closure of BitConnect, an infamous crypto exchange platform, the United States authorities are still in the business of bringing the brains behind it to book for allegations leveled against them.
The post Finally,...
