SEC Filed A Lawsuit Against 5 People From BitConnect Bankrupt In 2018

The US Securities and Exchange Commission (SEC) filed a lawsuit against 5 people from the cryptocurrency platform BitConnect, which declared bankruptcy in 2018.

The SEC filed a lawsuit against 5 people from BitConnect, which went bankrupt in 2018. The US Securities and Exchange Commission filed a lawsuit against 5 people who promoted the cryptocurrency platform BitConnect, which declared bankruptcy in 2018, and took an active part in the project. In the press release made by the SEC, it was stated that BitConnect sold more than $2 billion in unregistered securities between January 2017 and January 2018, and especially supported this with social media promotions. The institution sued Trevon Brown, Craig Grant, Ryan Maasen and Michael Noble who promoted BitConnect’s lending program to the masses in many forms, including Youtube videos published several times a day. It has been determined that another defendant named Joshua Jeppesen is the name that provides communication between BitConnect and those who promote the project. It was noted that Jeppesen also represented BitConnect at events. Defendants were charged with aiding BitConnect's illegal sale of securities, in violation of federal securities laws. While the case is filed in the New York Southern District Court, the SEC is seeking injunction, return of unfair gain with interest, and a fine. BitConnect was a pyramid scheme that defrauded tens of thousands of people around the world by promoting Bitcoin.