It’s been three years after the legendary bitconnect penny-chain business closed and it included the meme that the coin had deposited in the world to remember. Until now, it appears that the US SEC will announce the prosecution against five people involved in the lawsuit.
“The SEC’s complaint revealed that these supporters offered and sold securities without legally registering with the commission and not registering as a brokerage with the commission as required by the law. The federal government has set up “according to the announcement.
The prosecuted mother Trevon Brown, Craig Grant, Ryan Maasen and Michael Noble were charged with “advertising the advantages of investing in BitConnect’s lending program to prospective investors, including creating a video style. “Tell it from people who have invested in it,” and published on YouTube, sometimes with multiple shows per day. In exchange for commissions from such actions
The report also mentions Joshua Jeppesen’s name as the “coordinator between BitConnect and the parent team”.
Shortly after the SEC announcement, Trevon Brown (better known as Trevon James) tweeted that he did not deny any allegations, but said that the industry group had no complaints. Rypto must run to him.
Lara Shalov Mehraban, Deputy Regional Director for the SEC Regional Office for New York, said: “We will endeavor to prosecute illegal profit-seekers by taking advantage of the public’s flow and interest in digital assets,” said Lara Shalov Mehraban.
The Bitconnect company, which collapsed in 2018, was widely accused of a peer-to-peer project. Of both analysts and observers including Ethereum co-founder Vitalik Buterin last year, an Australian man has been charged with the company’s fraud. Many of you should be familiar with Bitconnect because of the legendary meme from Carlos Matos.
Several crypto lawyers have posted on Twitter speculating on the long-term trial of the case, with Gabriel Shapiro noting that although the SEC has focused on Bitconnect’s business, this is not the case. It could be a starting point so they can continue to carry on with the DAO.