BitConnect @ BehindMLM

BitConnect scammer John Bigatton avoids prison

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.”

John Bigatton pleads guilty to Bitconnect fraud charge

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 seize $51.9 million tied to BitConnect

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 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.