BitConnect @ BehindMLM

Following years of delays, there is finally some movement on the SEC’s BitConnect promoter case.

Australian BitConnect scammer John Bigatton has avoided prison. Following a guilty plea in May, Bigatton faced up to forty-seven years in prison. On July 15th, Bigatton was convicted but “released on a recognisance to be of good behaviour for three years.”

Australian BitConnect promoter John Louis Anthony Bigatton has pled guilty to a criminal charge brought by Public Prosecutors. On May 16th Bigatton pled guilty to one charge of providing unlicensed financial services on behalf of another person.

Indian authorities have seized ₹4.3 billion in cryptocurrency, gold and cash ($51.9 million USD). As reported by The Hindu on April 1st, the assets are tied to BitConnect’s “Divyesh Darji and others”.

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

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

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

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

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

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”.