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U.S. Court Fines Nearly $12 Million On Promoters Of Crypto Lending Platform BitConnect
Summary: The Securities and Exchange Commission (SEC) announced on Friday that the U.S. District Court for the Southern District of New York has rendered a judgment against Michael Noble (aka Michael Crypto) and final judgments against Joshua Jeppesen and Laura Mascola as a relief defendant. The reason is that they participate in BitConnect and promote its ...
The Securities and Exchange Commission (SEC) announced on Friday that the U.S. District Court for the Southern District of New York has rendered a judgment against Michael Noble (aka Michael Crypto) and final judgments against Joshua Jeppesen and Laura Mascola as a relief defendant. The reason is that they participate in BitConnect and promote its "loan program."
According to the judgment, Joshua Jeppesen and Laura Mascola were ordered to jointly pay more than $3.5 million and 190 BTC (worth $9.1 million) in recovery and pre-judgment interest, totaling nearly $12 million. Noble's fine has not yet been determined.
The case was initiated by the SEC in May. The SEC believes that the platform is suspected of a $2 billion unregistered securities offering.
The SEC stated that the investigation of BitConnect and its remaining executives is still ongoing.
Tags: bitconnect,SEC,Security
Link: U.S. Court Fines Nearly $12 Million On Promoters Of Crypto Lending Platform BitConnect [Copy]
