U.S. Securities and Exchange Commission won judgment against BitConnect executives

Golden Financial has announced that the US Securities and Exchange Commission (SEC) has come to the conclusion of fraud allegations against the scheme of Ponzi, the main founder of BitConnect, according to new information from the regulator respect. Arcaro reportedly sponsored BitConnect for a US-based company and used his company, Future Money Ltd., to allow investors to participate in the business. The U.S. Securities and Exchange Commission (SEC) first sued Arcaro, BitConnect founder Satish Kumbani, and FutureMoney in September this year. They allege the group defrauded $ 2 billion and failed to register to provide security through the BitConnect loan program. Satish Kumbhani and Future Finance have agreed to a resolution that prohibits the SEC from providing, operating or engaging in certain transactions or sales, and directly or indirectly engaging in advertising in digital media. The ruling also ordered Arcaro and Future Money to reimburse the president and pay interest up front. (The block)