My Big Coin Operators Fined $25.8 Million for Crypto Fraud
A court in Massachusetts has ordered the people behind My Big Coin to pay almost $25.8 million as a punishment to the Commodity Futures Trading Commission (CFTC). This decision was made on Wednesday, and the court has ordered My Big Coin Pay, Inc., and My Big Coin, Inc.
The court has also targeted its leaders, Mark Gillespie and John Roche, who are involved in tricking the investors. The court has declared that the fraudsters have to pay $19.32 million as a fine and an extra $6.44 million to give back money to 28 investors they have cheated.
As per the reports, the scam happened between January 2014 and June 2017. Gillespie, Roche, and another person named Randall Crater lied to people by saying My Big Coin (MBC) was supported by gold…
