BitConnect

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. The SEC sued Grant in May 2021. The regulator seeks to recover over $1.3 million, which Grant acquired as one of BitConnect’s top promoters. Upon learning of […]

A supplemental motion filed by the DOJ suggests Michael Noble is facing BitConnect criminal charges. In their February 14th motion, the DOJ seeks to stay SEC proceedings against Noble. The motion requests a modification to an existing order, which stayed proceedings against Trevon James and Craig Grant. The Government respectfully seeks a modification of the

The SEC has revealed it bungled service on BitConnect defendant Craig Grant. Owing to Craig Grant fleeing the US in mid 2021, the SEC had to track him down in Jamaica to effect service. This saw the regulator employ “an independent investigative firm” to locate Grant. To that end on October 8th, the SEC revealed it

An SEC filing has revealed BitConnect founder Satish Kumbhani has fled India. Kumbhani became a person of interest to Indian authorities in mid 2018. At the time Kumbhani (right) was implicated in a $22.7 million dollar extortion scheme. While Indian authorities were able to make arrests in the case, Kumbhani had fled India in late

Glenn Arcaro and his company Future Money have settled BitConnect fraud charges with the SEC. As detailed in Arcaro’s settlement; Arcaro, 44 years old, is a resident of Moorpark, California. On December 3, 2021, a judgment was entered by consent against Arcaro, permanently enjoining him from future violations of … the Securities Act (and) …

BitConnect defendant Glenn Arcaro’s BitConnect sentencing has been delayed till May 6th, 2022. As detailed in a December 7th Joint Motion requesting Arcaro’s sentencing be continued; (The parties) jointly move to continue the sentencing in this matter, currently set for January 7, 2022 to May 6, 2022. The request is based on the parties’ desire

A DOJ filing in the SEC’s BitConnect case suggests promoters are facing criminal indictment. The DOJ’s November 30th filing seeks to stay the SEC’s civil case against BitConnect’s US promoters. The stated reasons for the requested stay are; the pendency of a parallel criminal case … and a related, ongoing grand jury investigation. The same

After tracking BitConnect defendant Craig Grant in Jamaica, the SEC managed to serve him on October 29th. Grant’s response to the SEC lawsuit is now a week overdue. To serve Grant, the SEC engaged local counsel in Jamaica. Last month Grant was tracked down to Spanish Town, a housing estate west of Kingston. As recounted

The DOJ has announced “approximately $56 million” in cryptocurrency obtained from Glenn Arcaro will be liquidated. Proceeds are to be distributed to BitConnect victims. The DOJ’s announcement follows a joint motion filed on November 12th. The motion sought permission to sell Arcaro’s surrendered cryptocurrency assets. The cryptocurrency was recovered from “20 separate cold storage devices

The SEC has tracked BitConnect defendant Craig Grant to a hideout in Jamaica. In an October 8th request for an amended summons, the SEC reveals Grant’s hideout address: Interestingly enough this isn’t Grant’s family home, as featured in his YouTube farming videos. It appears to be a housing estate in the south-west of Spanish Town,