The US Securities and Exchange Commission (SEC) obtained a judgment against Glenn Arcaro – the lead promoter of the alleged fraudulent scheme BitConnect. According to the regulator, he promoted it to retail investors in the States and used his company – Future Money Ltd. – to lure traders into the scam.
The SEC Is on The Hunt Again
The SEC published its latest intentions regarding BitConnect on its official website. There, the agency informed that The United States District Court for the Southern District of New York entered judgments against Glenn Arcaro (the top promoter of the cryptocurrency project).
It is worth noting that he has previously pleaded guilty to Conspiracy to Commit Wire Fraud for his connection with BitConnect – one of the most controversial digital asset schemes.
The SEC’s first complaint against Arcaro came at the beginning of September. Back then, the watchdog filed an action against the founder Satish Kumbhani and the top US promoter (Glenn Arcaro) and
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