News > Indian founder on the run in global $2.4 bn crypto Ponzi scheme

Indian founder on the run in global $2.4 bn crypto Ponzi scheme

The Siasat | 01/03/2022 06:27 PM | Click to read full article

Satish Kumbhani, the founder of cryptocurrency platform BitConnect who has been indicted in the US for running a $2.4 billion crypto Ponzi scheme, has likely “relocated from India to an unknown location” abroad.

A federal grand jury in San Diego last week indicted Kumbhani with orchestrating a global Ponzi scheme.