$1000 bounty offered for Glenn Arcaro and CryptoNick’s whereabouts
Glenn Arcaro is known primarily throughout the BitConnect investor community as the top US BitConnect investor.
CryptoNick was a successful BitConnect investor, who primarily promoted the Ponzi scheme through his YouTube channel.
In videos that have since been deleted, CryptoNick boasted of earning hundreds of thousands of dollars in BitConnect referral fees. That’s on top of whatever he made in ROI payments from the platform itself.
In the wake of BitConnect’s collapse, Badisse David Mehmet has offered a $1000 bounty on both Glenn Arcaro’s and CryptoNick’s whereabouts.
At first I thought this was some sort of vigilante quest, which BehindMLM would obviously not have covered.
Turns out Mehmet (right) instead intends to sue both Arcaro and CryptoNick, in addition to handing over their details to authorities.
Often promoters of Ponzi schemes do so without considering public fallout when the scams inevitably collapse.
At just seventeen years of age, CryptoNick appears to be a perfect example.
In a video titled “BitConnect: $1000 bounty reward”, Mehmet identifies Arcaro ‘as one of the major players and major promoters‘ of BitConnect.
He has convinced many people to join this Ponzi scheme.
What happened after they had taken millions of dollars from investors, who trusted and believed what they were being told … the tokens that they sold to them became worthless and these individuals lost their money.
Mehmet goes on to claim people who think Arcaro and BitConnect YouTube promoters didn’t do anything wrong are “ignorant”.
Mehmet specifically calls out well-known BitConnect YouTubers Craig Grant and CryptoNick (above).
What I’m doing is I’m offering one thousand dollars on GoFundMe.
Anybody, the first individual who located (Arcaro), because we believe he took off overseas to Europe somewhere, you find this individual.
BehindMLM covered Arcaro’s abrupt disappearance on January 11th. Seven days later BitConnect collapsed.
You locate where he is and inform where he is, so we can inform the authorities on that and bring him to answer what he’s done, and helping to defraud individuals as a Director of BitConnect.
As for the other promoters, I’m gunna sue CryptoNick as well in federal court.
This is an individual who heavily promoted BitConnect.
As an agent of BitConnect, had thousands of people join BitConnect based on what he told them – and gave them assurances that BitConnect was legal and was not a scam.
He as an agent is liable.
In addition to his public bounty, Mehmet claims he will also “hire a private investigator”.
I will also post the federal lawsuits when they are filed against these two individuals and against BitConnect.
Whether Mehmet invested in BitConnect and if so, how much he lost, is not disclosed.
Although Mehmet does indeed appear to have started a GoFundMe campaign, as at the time of publication the provided link is returning “campaign not found”.
Whether that means someone has already claimed the bounty is unclear.
according to gofundme terms&conditions:
i guess gofundme cannot guarantee whether the bounty offer is genuinely for reporting a criminal to the authorities or for putting a gun to someone’s head, so they probably dont allow fund requests like mehmets?
Fair enough call. $1000 seems a bit low for a hitjob though. And surely it’d be a bit more low-key?
maybe mehmet is putting on a show for his own upset downline – hey! i’m going to find these bastards ad get all your money back!
in ponziland truth is stranger than fiction!
Guys, I can not belive how stupid people are! Why you focus on this people who promote a business?
They are Distributor, many of them they don’t have any clue what a Ponzi is and they just work to make money! This people made serious efforts to build theyr’s teams.
People if you want to go against someone go AGAINST THE COMPANY!
There are many people who made money in Bitconnect, why don’t you sue everyone of them if this is your logic…… i’m Telling you this is not fair don’t be hatters BE SMART!
Ignorance is not an excuse for the promotion of an illegal securities offering or engaging in and/or profiting from wire fraud.
All the courts care about is you made money in a Ponzi scheme.
Feel free to disclose who’s running BitConnect, otherwise top investors are as good a place as any to start.
Tirol … the “leaders” at the top (like Glenn and “CryptoNick”) are well aware of what they’re doing. There are others like them out there right now jumping around drawing in innocent people who don’t know any better.
Perhaps Oz can start a thread where all the names can be in one place for easy reference.
That’s good, the authorities should go after the promoters as with out them these would not last.
People need to know that there is a risk to promote a scam!
It is really funny how greedy people who join ponzi/mlm/network just to make money then they turn on they sponsor/upline to screw them up. I believe every member should be in charge, not depending on how much he/she made.
Liability is for everyone. If someone is a better seller than somebody else, but information were the same given by both, both should be liable.
That sounds good great, but the promoters are the ones who truly know they are in Ponzi’s and that’s why they are in it early. To make money off the fools that come in later trying to get rich quick. For the promoters there is too much financial incentive to get out of the game of promoting Ponzi’s, it’s easy money signing up people that actually think they are buying bitcoin. A perfect ponzi/mlm scheme has mildly intelligent thieves up top and a lot of gullible low educated people below them (ie. Bitconnect-USI tech) creating hype and hysteria.
I remember a video, I believe the one bragging about hitting $850k in profit and mentioning he was still 17 yrs old, still in High school living with his parents in Brooklyn or the Bronx…
Just checked, he deleted that video. Good luck.
His name is Nicholas Trovado/Trovato lives in New York and related to Kathleen Trovado/Trovato.
Search in White pages and it will come. I got this info from one of his hashflare/genesis mining videos.
he lives in Hicksville, NY