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Bitconnect Founder Charged for Massive Ponzi Fraud

A grand jury has indicted the founder Bitconnect, Satish Kumbhani for an elaborate ponzi fraud. The federal grand jury issued the indictment on Friday consequent upon a suit filed by the Securities and Exchange Commission (SEC) against Kumbhani last September. According to the filings by the Department of Justice (DoJ), the Bitconnect founder was accused of being the brain behind an elaborate…