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Good News! US Court Ordered $17 Million Restitution Payments In BitConnect Scheme!
A U.S. district court in San Diego ordered that over $17 million in restitution be distributed to approximately 800 victims from over 40 different in the BitConnect crypto scheme that defrauded thousands of investors worldwide. In Sept 2021, Glenn Arcaro, 44, the top U.S.-based promoter for BitConnect, pleaded guilty to conspiracy to commit wire fraud. In Feb 2022, BitConnect founder Satish Kumbhani was indicted for his central role in the multibillion-dollar fraud.