The Australian Securities and Investments Fee has filed legal costs in opposition to John Louis Anthony Bigatton.
Bigatton served as an Australian Director of the notorious BitConnect Ponzi scheme.
In September ASIC hit Bigatton with a seven-year monetary companies ban.
Following a prolonged investigation, ASIC has now moreover charged Bigatton (proper) with:
- one depend of working an unregistered managed funding scheme;
- one depend of offering unlicensed monetary companies on behalf of one other individual; and
- 4 counts of creating a false or deceptive assertion affecting market participation.
If convicted of all counts Bigatton is dealing with a forty-seven yr jail sentence, and/or fines probably working into the thousands and thousands.
ASIC introduced their case in court docket on November seventeenth. The following court docket listening to is scheduled for February 2nd, 2021.
Of notice is ASIC acknowledging the
help of our home and worldwide legislation enforcement counterparts in progressing its investigation, together with the Federal Bureau of Investigation.
We’re at a little bit of a clumsy level now, the place a regulator sometimes identified for doing nothing (ASIC), has taken motion in opposition to BitConnect scammers earlier than US authorities.
BehindMLM first turned conscious of the FBI investigation into BitConnect in March 2018.
Along with helping Australian authorities, the FBI has additionally proven curiosity in India’s efforts to convey BitConnect scammers to justice.
Past that nevertheless, the standing of the US authorities numerous investigations into BitConnect stays unclear.
Prime US BitConnect government Glenn Arcaro fled the US in January 2018. Prime promoters Trevon James and Craig Grant stay at giant.
James continues to advertise numerous cryptocurrency scams on YouTube.
Craig Grant paperwork his bounce home enterprise, additionally on YouTube. His cryptocurrency associated movies have been put behind a subscribers solely paywall.