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March 1, 2022 02:40 pm
Original Link: https://yro.slashdot.org/story/22/03/01/1434222/bitconnects-indicted-founder-kumbhani-has-disappeared-sec-says?utm_source=rss1.0mainlinkanon&utm_mediu
BitConnect's Indicted Founder Kumbhani Has Disappeared, SEC Says
BitConnect founder Satish Kumbhani, charged criminally in the U.S. last week with a $2.4 billion Ponzi scheme, has vanished from his native India, officials said. From a report: Last September, the Securities and Exchange Commission separately sued Kumbhani, claiming he fraudulently raised more than $2 billion from investors in his cryptocurrency exchange platform. But the SEC didn't know where he was and couldn't serve him with the lawsuit. The mystery deepened a bit Monday. Kumbhani, 36, "has likely relocated from India to an unknown address in a foreign country," SEC attorney Richard Primoff said in a court filing. "Since November, the commission has been consulting with that country's financial regulatory authorities in an attempt to locate Kumbhani's address. At present, however, Kumbhani's location remains unknown."Read more of this story at Slashdot.
Original Link: https://yro.slashdot.org/story/22/03/01/1434222/bitconnects-indicted-founder-kumbhani-has-disappeared-sec-says?utm_source=rss1.0mainlinkanon&utm_mediu
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