BitConnect @ BehindMLM

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 “bitconnect.co” 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.


SEC moves to serve Craig Grant via email/publication

The SEC has been unable to locate Craig Grant for service in Jamaica. As an alternative, the regulator now seeks permission to effect service via email and publication.


Michael Noble also likely facing BitConnect criminal charges

A supplemental motion filed by the DOJ suggests Michael Noble is facing BitConnect criminal charges.


SEC bungles service on Craig Grant in Jamaica

The SEC has revealed it bungled service on BitConnect defendant Craig Grant.


BitConnect founder Satish Kumbhani flees India, on the run

An SEC filing has revealed BitConnect founder Satish Kumbhani has fled India.