Thursday, March 28, 2024
HomeBusinessSEC Sues 5 Individuals Over $2B BitConnect Ponzi By CoinQuora

SEC Sues 5 Individuals Over $2B BitConnect Ponzi By CoinQuora

Date:

Related stories

Essential Tips for Investor Relations Events

Investor Relations (IR) is key to the success of...

Buying a Modern Kitchen Sink: How to Choose a Shop

If you are doing some home renovations, and the...

The Impact of School Districts on Home Sales in Dayton

When selling a home in Dayton, Ohio, several elements...

Elevate Your Everyday: Tips and Insights for Enhancing Your Lifestyle

Introduction With long periods of business experience, Michael's group utilizes...

Beat the Wager: Your Ultimate Guide to Conquering Casino Playthroughs

Are you stuck with those tricky wagering requirements? Trust...


SEC Sues 5 Individuals Over $2B BitConnect Ponzi
  • The U.S. SEC files charges to five promoters for their alleged involvement in BitConnect 2018 scheme.
  • The promoters received commissions based on their success in soliciting funds.

On Friday, the U.S. Securities and Exchange Commission sues five individuals for their alleged involvement in the Bitconnect Ponzi. It should be noted, BitConnect is the global crypto lending and exchange platform that collapsed in 2018.

Based on SEC’s complaint, BitConnect used a network of promoters to offer and sell over $2 billion in securities without registering it on SEC. More so, this complaint was filed in the United States District Court for the Southern District of New York, from about January 2017 to January 2018. Apart from this, the complaint states that BitConnect did not register as broker-dealers as required by the federal securities law.

Lara Shalov Mehraban, New York SEC’s Associate Regional Director stated,

“We alleg…

This article was first published on coinquora.com

Continue reading on CoinQuora

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

See also  Goldman Sachs has a list of new buy-rated global stocks





Source link

Bellie Brown
Bellie Brownhttps://businesstimes.org
Hi my lovely readers, I am Bellie brown editor and writer of Businesstimes.org. I write blogs on various niches such as business, technology, lifestyle., health, entertainment, etc as well as manage the daily reports of the website. I am very addicted to my work which makes me keen on reading and writing on the very latest and trending topics. One can check my more writings by visiting Cleartips.net

Latest stories