SEC Charges Global Crypto Lending Platform and Top Executives in $2 Billion Fraud
Washington D.C., Sept. 1, 2021 —The Securities and Exchange Commission announced today that it has filed an action against BitConnect, an online crypto lending platform, its founder Satish Kumbhani, and its top U.S. promoter and his affiliated company, alleging that they defrauded retail investors out of $2 billion through a global fraudulent and unregistered offering of investments into a program involving digital assets.
