BitConnect @ BehindMLM

BitConnect class-action reduced to three defendants

The future of the BitConnect class-action is in question, following a reduction of defendants to just three.


More defendants dismissed from BitConnect class-action

The BitConnect class-action isn’t going to well, following dismissal of the second amended complaint and several defendants.


Class-action filing alleges BitConnect defendants on run from law

A Status Report filed in the BitConnect class-action alleges a number of defendants are hiding from the law.


US Court rules BitConnect was a securities offering

As part of the order dismissing claims against BitConnect class-action defendants Glenn Arcaro, Ryan Maasen and YouTube, a US court has definitively ruled that BitConnect was a securities offering.


Arcaro, Maasen & YouTube dismissed from BitConnect class-action

Claims against BitConnect class-action defendants Glenn Arcaro, Ryan Maasen and YouTube have been dismissed.


Trevon James facing $2 million BitConnect SEC clawback

Trevon James has uploaded a new video discussing his part in the ongoing SEC investigation into BitConnect. I’ve given up trying to ascertain whether James is parodying himself as a securities fraud suspect, so the following is reported “as is” with a straight face.


BitConnect web developer extradited from Abu Dhabi to India

A BitConnect web developer has been deported from Abu Dhabi at the behest of Indian authorities.


FBI sends agents to interrogate arrested Indian BitConnect suspect

Although it feels like US authorities are dragging their feet with respect to BitConnect, reports of India confirm the investigation is still very much active. The latest update we’ve got on the FBI’s BitConnect investigation is that two agents recently interrogated Saitsh Kumbhani.


Another BitConnect promoter arrested in India, 280 BTC & assets seized

Authorities in Surat, Gujurat arrested Rakesh Savani last Friday. Savani is identified as a “Asian region promoter” of BitConnect, the notorious MLM cryptocurrency Ponzi scheme.


Suspected BitConnect owner also behind RegalCoin

RegalCoin launched in late 2017, at the height of the BitConnect lending Ponzi craze. RegalCoin itself was unremarkable. In our September 2017 review, we noted it was just another BitConnect clone. Turns out this was true beyond the business model, following Indian authorities outing Divyesh Darji in connection to RegalCoin.