Tag Archives: ponzi scheme

Crypto Founder Charged In Alleged $2.4B Ponzi Scheme

From the Justice Department: A federal grand jury in San Diego returned an indictment today charging the founder of BitConnect with orchestrating a global Ponzi scheme. BitConnect is an alleged fraudulent cryptocurrency investment platform that reached a peak market capitalization of $3.4 billion. According to court documents, Satish Kumbhani, 36, of Hemal, India, the founder of BitConnect, misled investors about …

Read More »