{"id":261939,"date":"2021-05-29T00:48:42","date_gmt":"2021-05-28T21:48:42","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/s-e-c-charges-5-for-illegally-promoting-2-billion-bitconnect-ponzi\/"},"modified":"2021-05-29T00:48:42","modified_gmt":"2021-05-28T21:48:42","slug":"s-e-c-charges-5-for-illegally-promoting-2-billion-bitconnect-ponzi","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/s-e-c-charges-5-for-illegally-promoting-2-billion-bitconnect-ponzi\/","title":{"rendered":"# S.E.C. charges 5 for illegally promoting $2 billion Bitconnect Ponzi"},"content":{"rendered":"<p>&#8220;<strong># S.E.C. charges 5 for illegally promoting $2 billion Bitconnect Ponzi <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvNzMzYzAxNzAtZDM3OC00YTA4LThkNjktMTQ3MjNlMDZhYTU1LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>Three years and some unforgettable memes later, the Securities and Exchange Commission has announced that 5 individuals will face charges relating to promoting the Bitconnect Ponzi scheme.\u00a0<\/p>\n<p>\u201cThe SEC&#8217;s complaint alleges that these promoters offered and sold the securities without registering the securities offering with the Commission, and without being registered as broker-dealers with the Commission, as required by the federal securities laws,\u201d the release reads. <\/p>\n<p>The promoters, including Trevon Brown, Craig Grant, Ryan Maasen, and Michael Noble are said to have \u201cadvertised the merits of investing in BitConnect&#8217;s lending program to prospective investors, including by creating &#8220;testimonial&#8221; style videos and publishing them on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">YouTube<\/a>, sometimes multiple times a day.\u201d In exchange for their promotional efforts, the influencers and representatives were paid on a commission basis. <\/p>\n<p>The release also named Joshua Jeppesen as \u201ca liaison between BitConnect and promoters.\u201d<\/p>\n<p>Shortly after the release, Trevon Brown (better known as Trevon James) posted a Tweet in which he did not deny the charges and said that the community would \u201crally\u201d around him.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Real crypto OG\u2019s will rally around me. <\/p>\n<p>The real ones that know the truth, and what h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ened from day 1. <\/p>\n<p>Talk to you guys soon.\u23f3<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/FreeTrevon?src=hash&amp;ref_src=twsrc%5Etfw\">#FreeTrevon<\/a><\/p>\n<p>\u2014 Trevon James, Founder of our.glass Crypto (@BitcoinTre) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BitcoinTre\/status\/1398379767448190979?ref_src=twsrc%5Etfw\">May 28, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>&#8220;We will seek to hold accountable those who illegally profit by capitalizing on the public&#8217;s interest in digital assets,\u201d said Lara Shalov Mehraban, Associate Regional Director of SEC&#8217;s New York Regional Office in the release.\u00a0<\/p>\n<p>The company, which collapsed in 2018, was widely accused on being a ponzi scheme from several analysts and observers, including Ethereum co-founder Vitalik Buterin. Last year, an Australian man was charged in connection with the company\u2019s fraud. Many will be familiar with the project due to a now-legendary presentation from investor Carlos Matos:<\/p>\n<p><iframe loading=\"lazy\" title=\"Bitconnect Annual Ceremony High Lights ( Carlos Matos from N.Y. )\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/vabXXkZjKiw?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>Multiple crypto lawyers have taken to Twitter to speculate on the long-term ramifications of this case. Gabriel Shapiro noted that even though the S.E.C. is targeting a known fraud in Bitconnect, it could end up being a \u201cblueprint\u201d for action against other DAOs.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">no time to write something long, but don&#8217;t be fooled by the fact that Bitconnect was a fraud&#8211;this case could become a blueprint for action against non-fraudulent DAOs <\/p>\n<p>N.B.&#8211;Bitconnect was an &#8220;unincorporated association&#8221; <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/WyXzap8oLZ\">https:\/\/t.co\/WyXzap8oLZ<\/a><\/p>\n<p>\u2014 _gabrielShapir0 (@lex_node) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/lex_node\/status\/1398378913290764294?ref_src=twsrc%5Etfw\">May 28, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/s-e-c-charges-5-for-illegally-promoting-2-billion-bitconnect-ponzi\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# S.E.C. charges 5 for illegally promoting $2 billion Bitconnect Ponzi &#8221; Three years and some unforgettable memes later, the Securities and Exchange Commission has announced that 5 individuals will face charges relating to promoting the Bitconnect Ponzi scheme.\u00a0 \u201cThe SEC&#8217;s complaint alleges that these promoters offered and sold the securities without registering the securities&#8230;<\/p>\n","protected":false},"author":1,"featured_media":261940,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvNzMzYzAxNzAtZDM3OC00YTA4LThkNjktMTQ3MjNlMDZhYTU1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[80390,75321,74898,70934],"class_list":["post-261939","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitconnect","tag-ponzi-scheme","tag-sec","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/261939","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=261939"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/261939\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/261940"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=261939"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=261939"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=261939"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}