Articles under ‘BitConnect’:

BitConnect cease and desist permanent in North Carolina

Following no response from BitConnect, a cease and desist issued against the company by North Carolina has been ordered permanent.

BitConnect lawsuits update, July 2018 (class-action mergers)

Over the last month we’ve covered the addition of YouTube as a defendant in the BitConnect class-action filed in Florida. Here’s our July update on the other BitConnect cases filed across the US.

YouTube added to defendants in BitConnect fraud class-action

A third amended complaint has seen YouTube added as a defendant in the ongoing BitConnect fraud class-action.

BitConnect FBI investigation update, Director’s wife missing

BehindMLM first reported on an FBI investigation into BitConnect back in March, following confirmation from top-investor Trevon James. Following the disappearance of BitConnect Director John Bigatton’s wife, authorities have confirmed the FBI investigation is ongoing.

BitConnect lawsuits update, June 2018

As it stands there are currently five active lawsuits filed against BitConnect and top investor defendants in the US. Here’s an update on their current status as of June 16th, 2018.

Singapore govt refers to OneCoin & BitConnect as Ponzi pyramids

In a May 25th press-release addressing digital tokens, the Singapore government has singled out OneCoin and BitConnect as Ponzi pyramid schemes.

BitConnect tied to Indian demonetization, three owners on the run

It appears BitConnect, a Ponzi scheme with losses potentially running into the billions, was launched to skirt newly introduced demonetization law in India.

Kidnapping and extortion escapades in India reveal BitConnect owner?

A builder in India has been arrested as part of a Rs. 1.5 billion bitcoin extortion bust ($22.7 million USD). Three months ago local builder Shailesh Bhatt had filed a complaint with the Gujurat Criminal Investigation Department. In his complaint Bhatt alleged extortion by the Amreli police. Amreli is a district in Saurashtra, Gujurat. Upon [Continue reading…]

Bankruptcy default granted against Frank Dilullo, up for damages

Before he turned to the MLM cryptocurrency niche to scam people through, Frank Dilullo ran a Ponzi scheme through his failed Holey Donuts venture. As part of Chapter 7 proceedings, a court-appointed bankruptcy Trustee sued Dilullo for running a Ponzi scheme. The Holey Donuts Ponzi scheme saw Dilullo (right) continue to solicit new investors even [Continue reading…]

BitConnect investor alert issued in Ontario, Canada

Three months after its collapse, the Ontario Securities Commission has issued an investor warning against BitConnect.