Online crypto lender sued for fraud, US regulator reports
- The SEC sued an online crypto lending platform for fraud.
- The platform allegedly defrauded investors of $ 2 billion.
- The SEC claims that this money came from a bogus and unregistered âloan programâ.
As recently as today, the U.S. SEC sued online crypto lending platform BitConnect for allegedly defrauding a total of $ 2 billion. Its founder, Satish Kumbhani, its main American promoter, Glenn Arcaro, and his affiliate are convicted of this crime.
Today, we announced that we have filed a lawsuit against an online crypto lending platform, its founder, and its main US promoter and affiliate.
They would have defrauded private investors of $ 2 billion!
More: https://t.co/gO10Ag0tfh pic.twitter.com/XghdUBqaCz
– SEC (@SECGov) September 1, 2021
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