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”.
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.
In September 2021 somebody purchased BitConnect’s “bitconnect.co” website domain. They’ve since turned it into a Ponzi factory, and business is booming.
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.
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.
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.
A supplemental motion filed by the DOJ suggests Michael Noble is facing BitConnect criminal charges.
The SEC has revealed it bungled service on BitConnect defendant Craig Grant.
An SEC filing has revealed BitConnect founder Satish Kumbhani has fled India.
Glenn Arcaro and his company Future Money have settled BitConnect fraud charges with the SEC.
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