BitConnect Crypto Ponzi Scheme Scammer’s Assets Frozen By A Court In Australia
BitConnect Scammer’s Assets Frozen By A Court In Australia
A court in Australia decided to freeze BitConnect Director John Bigatton’s assets. BitConnect was one of the biggest pyramid and Ponzi schemes in the virtual currency market that fell back in January 2018. At the same time, the court banned him from leaving the country.
Bigatton was not only the only representative of the company in Australia, but it was also the Director of BitConnect International PLC in the United Kingdom. According to a report released by Behind MLM, the decision that was taken by the court is related to an ongoing investigation related to BitConnect. Indeed, the Australian Securities and Investments Commission (ASIC) is behind it.
Nevertheless, there are other regulatory agencies from other countries working with ASIC to better understand what happened with BitConnect.
Bigatton’s wife, Madeline, has disappeared a few months after the collapse of the scam. Since March 2018, NSW police consider that his wife is a missing person. There was no more information about her since then.
As per the report, there have been no sightings of Madeline Bigatton and her body has also not been found yet.
BitConnect proposed investors a fast way to become rich fast. It allowed individuals to earn an interesting return on their investments. When the cryptocurrency market was reaching a new all-time high, BitConnect announced that it was giving investors their BCC coins back. After it, the coin plummeted down close to $1.
Earlier in December 2018, scammers have been using a report released by the Texas Securities Board to reach out individuals and steal them. Individuals had to pay a fine if they wanted to receive their refunds.