In a press release on July 15, the regulator announced that Bigatton had been released on a “recognizance to be of good behavior for three years.” This decision came after Bigatton was found to have promoted BitConnect in Australia through seminars and social media between late 2017 and early 2018. It is noteworthy that Satish Kumbhani, the founder of BitConnect, was indicted in early 2022 by a U.S. court jury for allegedly orchestrating an international multi-billion crypto Ponzi scheme.
BitConnect promoter convicted by Australian court for providing unlicensed financial advice
