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Travel Ban, Fund Freeze Imposed on Bitconnect Promoter

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A travel ban was imposed by the Federal Court of Australia along with the suspension of the funds of John Bigatton, a promoter of the alleged $2.6 billion Ponzi scheme Bitconnect.

This is according to a report from the daily newspaper The Sydney Morning Herald.

Bigatton is apparently documented as a director and shareholder of BitConnect International Plc and the only representative of Bitconnect Australia. Bigatton’s wife, Madeline Bigatton, is allegedly the sole director and shareholder of JB’s Investment Management, a firm whose assets have been suspended, that is believed to be associated with Bigatton.

Mrs. Bigatton had gone missing since March 2018 and has not yet been found. The report cited that her husband is not involved in her disappearance.

The travel ban and fund freeze was decided on by the Australia’s corporate watchdog ASIC, which is looking into Mr. Bigatton’s business transactions. The report said that ASIC began the proceedings to suspend Mr. Bigatton’s assets in December of last year, and that the Australian Federal Court justice has now mandated him to reveal all of his bank accounts and locations of crypto holdings.

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