Tag Archives: Bitconnect

Regulators Freezes Assets of BitConnect Promoter John Bigatton

John Bigatton, the only representative for BitConnect Australia, has had his assets frozen by the Australian Securities and Investments Commission (ASIC), functions very similarly to the Securities and Exchange Commission in the United States. Bigatton can’t travel, as part of the ongoing investigation. Continue reading Regulators Freezes Assets of BitConnect Promoter John Bigatton

BitConnect Again? DavorCoin Price Dives After Lending Site Shutdown

A cryptocurrency investment scheme that last month drew the ire of state regulators in Texas announced last week that it was closing its lending platform. DavorCoin, as previously reported, was likened to BitConnect by the Texas State Securities Board (TSSB) given that both involved the use of a lending site and had promised to pay steady interest income to those who invested. On Feb. 2, the board issued a cease-and-desist to Davorcoin, alleging at the time that those behind the scheme had intentionally hidden information from would-be stakeholders. “The emergency order found that DavorCoin is telling investors they can earn lucrative profits by investing in a lending program based on a new cryptocurrency known as davorcoin. Investors allegedly purchase davorcoin and then lend it to DavorCoin,” TSSB wrote at the time.

Reference: https://www.coindesk.com/bitconnect-davorcoin-price-dives-lending-site-shutdown/

Bitconnect is Facing its Second Class Action Lawsuit

Another class-action lawsuit, along with a restraining order, has been filed against UK-based Bitconnect, this one in Kentucky.

Brian Paige is suing Bitconnect for an undisclosed sum for operating an alleged online investment scam — a Ponzi scheme — in the second such lawsuit filed against the lending and exchange platform in a week. At least 100 members have joined the class action, reflecting an “amount in controversy” that surpasses $5 million.

The latest class-action lawsuit was filed in the US District Court for Kentucky, Louisville Division on Jan. 29. Paige is being represented by Jasper Ward of Jones Ward PLC in Louisville, Kentucky and Abigale Rhodes Green of an injury law firm that bears her name.

Reference: https://www.ccn.com/second-complaint-lodged-against-bitconnect/