Tag: cryptocurrency Ponzi scheme

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SEC Files Emergency Action Against Bkcoin in $100 Million Crypto Fraud Scheme

March 7, 2023

The U.S. Securities and Exchange Commission (SEC) has filed an emergency action against Miami-based investment adviser Bkcoin and one of its principals, Kevin Kang. “The defendants disregarded the structure of the funds, commingled investor assets, and used more than $3.6 million to make Ponzi-like payments to fund investors,” the SEC alleged. SEC’s ‘Emergency Action’ Against…
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US Charges Indian Citizen in $3.4 Billion Crypto Ponzi Scheme Bitconnect

February 27, 2022

The founder of the $3.4 billion crypto Ponzi scheme Bitconnect has been charged in the United States. “If convicted of all counts, he faces a maximum total penalty of 70 years in prison,” said the U.S. Department of Justice. Bitconnect’s Founder Could Go to Prison for 70 Years The U.S. Department of Justice…
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