BitConnect @ BehindMLM

A top Indian BitConnect investor was arrested at Delhi airport on Saturday. Divyesh Darji was apprehended following a look-out notice issued as part of an ongoing investigation.

Things are getting serious for BitConnect’s top promoters, as “Crypto Clover” found out upon returning to the US. Crypto Clover (real name: Calen Powell), promoted BitConnect through his YouTube channel until it collapsed. How much money Powell stole from BitConnect victims is unclear. Powell refers to himself as a “crypto nomad”, having sold most of his assets [Continue reading…]

Top BitConnect investor Craig Grant uploaded a YouTube video a few hours ago, in which he confirms an SEC investigation into the company is underway.

Following no response from BitConnect, a cease and desist issued against the company by North Carolina has been ordered permanent.

Over the last month we’ve covered the addition of YouTube as a defendant in the BitConnect class-action filed in Florida. Here’s our July update on the other BitConnect cases filed across the US.

A third amended complaint has seen YouTube added as a defendant in the ongoing BitConnect fraud class-action.

BehindMLM first reported on an FBI investigation into BitConnect back in March, following confirmation from top-investor Trevon James. Following the disappearance of BitConnect Director John Bigatton’s wife, authorities have confirmed the FBI investigation is ongoing.

As it stands there are currently five active lawsuits filed against BitConnect and top investor defendants in the US. Here’s an update on their current status as of June 16th, 2018.

In a May 25th press-release addressing digital tokens, the Singapore government has singled out OneCoin and BitConnect as Ponzi pyramid schemes.

It appears BitConnect, a Ponzi scheme with losses potentially running into the billions, was launched to skirt newly introduced demonetization law in India.