BitConnect promoter John Bigatton convicted in Australia

2024-07-15 15:21:33

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ChainCatcher news, according to Decrypt, John Bigatton, a promoter of the Bitcoin trading platform BitConnect, has been convicted by the Sydney District Court for providing unauthorized financial advice.

From August 2017 to January 2018, Bigatton promoted BitConnect through seminars and social media, offering financial advice without proper authorization. According to court records and a statement from the country's corporate regulator on Sunday, John Bigatton was sentenced on Friday to three years of good behavior recognition and was disqualified from managing companies for five years.

These lawsuits are now being overseen by the Australian Federal Police under the Proceeds of Crime Act, while the New South Wales Supreme Court proceedings are still ongoing.

It is reported that Bigatton was previously banned by ASIC from providing financial services for seven years in 2020. In May of this year, he pleaded guilty to providing unlicensed financial advice.

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