BitConnect founder sued over alleged $2 bln crypto fraud
The Hindu
The SEC is seeking fines, the recouping of ill-gotten gains, and other relief in its lawsuit in Manhattan federal court.
The top U.S. securities regulator on Wednesday sued the founder of the now-defunct cryptocurrency exchange platform BitConnect over his alleged role in fraudulently raising about $2 billion from retail investors. (Subscribe to our Today's Cache newsletter for a quick snapshot of top 5 tech stories. Click to subscribe for free.) Expanding a civil case announced in May, the U.S. Securities and Exchange Commission charged BitConnect founder Satish Kumbhani, an Indian citizen, with illegally touting BitConnect's unregistered offering from January 2017 to January 2018.
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