The Securities And Exchange Commission Charges Five Individuals In The BitConnect Ponzi Program

Bitconnect has long been discontinued but lawsuit is among them.

A press release from the Securities and Exchange Commission states the agency is filing charges against 5 individuals that promoted the Ponzi platform for selling unregistered security tokens.

The SEC has filed complaints against Trevon Brown, Craig Grant, Joshua Jeppesen,Ryan Maasen and Michael Noble for their involvement in promoting Bitconnect’s lending program.

According to the SEC charges,the five individuals has advertised Bitconnect’s lending program to social media sites in exchange for “commissions”.

These individuals has raised over $2 billion on unregistered sales from retail investors .

The SEC complaint seeks injunctive relief, disgorgement plus interest, and civil penalties.

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