Australian BitConnect Promoter Convicted for Providing Unlicensed Financial Advice
John Bigatton, the Australian promoter of the defunct cryptocurrency exchange BitConnect, has been convicted by the Sydney District Court for providing unlicensed financial advice. He was sentenced to a three-year recognizance of good behavior and disqualified from managing corporations for five years. Bigatton promoted BitConnect through seminars and social media, promising high returns to investors. ASIC Deputy Chair Sarah Court stated that providing unlicensed financial advice undermines trust and confidence in Australia’s financial services industry.
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