BitConnect @ BehindMLM

BitConnect’s Glenn Arcaro cops $28 mill judgment in SEC case

BitConnect’s Glenn Arcaro has been sentenced to a $28 million judgment in his SEC fraud case.

800 BitConnect victims to receive $17 million in restitution

800 victims of the BitConnect Ponzi scheme are set to receive a share in $17 million recovered through restitution.

BitConnect class-action dismissed by Plaintiffs

The BitConnect class-action has been dismissed by co-lead Plaintiffs Albert Parks and Faramarz Shemirani.

Glenn Arcaro’s BitConnect CA Supreme Court writ denied

The Supreme Court has denied BitConnect scammer Glen Arcaro’s petition for a writ of certiorari.

BitConnect’s Glenn Arcaro sentenced to 38 months in prison

BitConnect’s Glenn Arcaro has been sentenced to 38 months in prison (just over 3 years).

New BitConnect case against Kumbhani in India

Four and a half years after BitConnect collapsed, a victim has registered a complaint with police in India. The victim, identified only as a lawyer in Pune, Maharashtra, claims to have lost “close to 220 bitcoin”.

Settlement unlikely in BitConnect class-action

A BitConnect class-action Status Report reveals a settlement between the parties is unlikely at this time based on the history of this litigation and the Parties’ litigation positions. A Fourth Amended Complaint is also in the works.

Somebody turned BitConnect’s domain into a Ponzi factory

In September 2021 somebody purchased BitConnect’s “” website domain. They’ve since turned it into a Ponzi factory, and business is booming.

BitConnect’s Satish Kumbhani indicted in the US

Satish Kumbhani has been indicted by a Grand Jury in San Diego. Kumbhani, an Indian national, is the founder of the notorious BitConnect Ponzi scheme.

BitConnect class-action reversal opens can of worms

In April 2020 what was left of the BitConnect class-action was dismissed by a District Court Judge. The dismissal was appealed, resulting in the Eleventh Circuit overturning the decision on February 18th.