The cryptocurrency world is close to bringing the curtain down on one of its darkest and somewhat bizarre chapters, as the Securities and Exchange Commission has approved a settlement of more than $12 million from defendants Joshua Jepsen, Michael Noble and Laura Mascula. , accused of being marketers and part of the “Bitconnect” scam project, which is one of the most famous Ponzi schemes in crypto history.

According For an official announcement Issued by the SEC, Jepsen and Nobel are both charged.

Jepsen’s partner, Laura Mascola, was also under consideration as a defendant.

$12 million settlement for $2.5 billion fraud:

The Securities and Exchange Commission (SEC) filed a complaint on May 28, 2021, against Jepsen, Noble and Mascula.

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The same document included other names such as:

Ryan Mason, Greg Grant and Tryvon Jones are the most famous names.

The settlement does not include the last three names, which means that there are still some open files, and the investigation is still not stopped.

In fact, the FBI still collects as much information as possible to this day.

The Securities and Exchange Commission explains that it has requested settlement in the form of bitcoin and dollars as separate payment methods. Its statement reads as follows:

On August 13, 2021, the US District Court for the Southern District of New York issued a judgment against “Michael Noble” (also known as Michael Krypto) and a final judgment against “Joshua Jeppesen” for their involvement in the BitConnect project and the promotion of their lending program.

The court also issued a final judgment against “Laura Mascula” as a defendant

According to the rulings, the defendants were ordered to collectively pay more than $3.5 million and 190 Bitcoins.

What is the Bitconnect project?

Bitconnect is perhaps the most famous scam in the crypto world.

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During its heyday between late 2017 and early 2018, the project continued to amass $2.5 billion in capital, making it into the top 10 cryptocurrency list, when Bitcoin was flirting at the $20,000 level.

The project became famous and resonated globally thanks to its strong marketing campaign, its referral program, and its promise of high returns…

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It is possible that the name of the project “Bitconnect” by the Latin host “Carlos Matos” increased to the reputation of the project.

The project collapsed in January 2018, when various government agencies in the United States issued cease-and-desist orders, calling the project a fraud, something other countries have repeated.

Currently the project is completely dead, but the cry of “Carlos Matos” still resonates to this day 🙂

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