Aussie admits to promoting BitConnect crypto services without a license
The Australian Securities and Exchange Commission claims that John Louis Anthony Bigatton promoted the crypto lending platform at four seminars and via two social media posts.
An Australian man has pleaded guilty to his involvement in promoting cryptocurrency lending services for the now-defunct crypto exchange BitConnect — an infamous entity that allegedly ran as a Ponzi scheme and shut down in 2018 amid accusations of defrauding victims of more than $2.4 billion.
“Mr. Bigatton provided financial product advice without holding an Australian Financial Services license or authorization to provide financial services about the lending platform,” the Australian Securities and Exchange Commission (ASIC) declared in a May 17 statement.
ASIC alleged that in his role as BitConnect’s national promoter, John Louis Anthony Bigatton offered financial product advice on six occasions at different locations across Australia, at four seminars, and through two social media posts.
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Author: Ciaran Lyons
