SEC begins case against those involved in alleged $2 billion BitConnect fraud
The SEC filed an action against five individuals that they alleged promoted unregistered securities in a $2 billion investment scheme, which they described as a "lending program". In September, the SEC also charged BitConnect's founder, Satish Kumbhani, for his role in the scheme, as well as an additional promoter.
- " SEC Charges U.S. Promoters of $2 Billion Global Crypto Lending Securities Offering", U.S. Securities and Exchange Commission
- SEC v. BitConnect