Trevon James & Craig Grant Are Being Sued for Bitconnect

Crypto Market Update for May 30th, 2021

It appears that the SEC wants Trevon James, Craig Grant and a few other Bitconnect promoters to pay back all the money they earned from Bitconnect.

Here is an excerpt from the actual court filing detailing what the SEC wants.

⁣NATURE OF THE PROCEEDINGS AND RELIEF SOUGHT

12. The SEC brings this action pursuant to the authority conferred upon it by Securities
Act Section 20(b) and Section 20(d) [15 U.S.C. §§ 77t(b) and 77t(d)] and Exchange Act Section 21(d)
[15 U.S.C. § 78u(d)].

13. The SEC seeks a final judgment: (a) permanently enjoining Defendants from
violating the federal securities laws and rules this Complaint alleges they have violated; (b)
permanently enjoining Defendants as specified in the Prayer for Relief below; (c) ordering
Defendants and Mascola to disgorge all ill-gotten gains and/or unjust enrichment they received as a
result of the violations alleged herein and to pay prejudgment interest thereon, pursuant to
Exchange Act Sections 21(d)(5) and 21(d)(7) [15 U.S.C. §§ 78u(d)(5) and 78u(d)(7)]; (d) ordering
Defendants to pay civil money penalties pursuant to Securities Act Section 20(d) [15 U.S.C. § 77t(d)]
and, with respect to Defendants Brown, Grant, Maasen, and Noble, pursuant to Exchange Act
Section 21(d)(3) [15 U.S.C. § 78u(d)(3)]; and (e) ordering any other and further relief the Court may
deem just and proper.