John Bigatton, former Bitconnect Australian Nationwide Consultant, is the topic of an ongoing investigation by the Australian Securities and Investments Fee (ASIC).
As a part of ASIC’s investigation, Bigatton has been slapped with a seven 12 months monetary providers ban.
Though ASIC states its investigation into Bigatton (proper, along with his lacking spouse) is ongoing, to this point the regulator has
discovered that, in connection along with his promotion of BitConnect and the BitConnect Lending Platform, Mr Bigatton supplied unlicensed monetary product recommendation and engaged in conduct, in relation to monetary merchandise and monetary providers, which was deceptive or misleading or was more likely to mislead or deceive.
ASIC additional discovered that Mr Bigatton:
-is not a match and correct individual to supply monetary providers;
-is not adequately educated, or is just not competent, to supply a monetary service or monetary providers; and
-is more likely to contravene a monetary providers regulation.
What the findings may result in with respect to ASIC’s ongoing investigation, together with doable prison expenses, is unclear.
Replace 18th November 2020 – Asic has filed prison expenses in opposition to John Bigatton.