DOJ indicts BitConnect’s Indian founder for $2.4B crypto Ponzi scheme - Cointelegraph
2/26/2022 12:00:00 AM4 yearsago
by Arijit Sarkar
by Arijit Sarkar
The indictment alleges Kumbhani used the funds from new investors to partially pay back the old investors until abruptly shutting down the program — operating a textbook Ponzi scheme.
The founder of the infamous crypto exchange BitConnect, Satish Kumbhani, has been charged for allegedly misleading investors globally and defrauding them of $2.4 billion in the process. According to… [+3228 chars]
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