Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: Casual on July 08, 2021, 08:56:58 AM
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Four of six U.S.-based promoters of the notorious BitConnect Ponzi scheme have reached settlement agreements with the SEC. The U.S. Securities and Exchange Commission (SEC) is nearing settlements with four U.S.-based individuals accused of promoting the multi-billion dollar crypto Ponzi scheme, BitConnect.According to Law360, the terms of the settlements are currently awaiting final approval from Judge John Koeltl. The judge noted that while agreements’ terms are currently legally sound, minor fixes are needed to be made to ensure they are “scrupulously accurate.”The agreements include a more than $3 million settlement from Joshua Heppensen of Massachusetts and $576,000 from his fiancee Laura Mascola, $526,000 from Ryan Maasen of Oklahoma, and an unspecified amount from Michael Noble of California.source (https://cointelegraph.com/news/sec-closes-in-on-settlements-with-us-bitconnect-promoters-for-millions)
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I have to admit that I once promoted the Bitconnect opportunity back then all because it was then very popular and people were then making good money out of the system. usually affiliates are so willing to promote anything to make some money and they are not the ones who are owning the program. Good to see that finally the case against these big Bitconnect promoters will finally be settled as these people did not actually got the money from Bitconnect via donations...their affiliate income came from hard work via promotions.