The US Securities and Exchange Commission (S.E.C) will press charges against five individuals for their involvement in the $2 billion Bitconnect ponzi scheme.
They claim that these individuals promoted and sold securities without registering the it with the commission.
“The SEC’s complaint alleges that these promoters offered and sold the securities without registering the securities offering with the Commission, and without being registered as broker-dealers with the Commission, as required by the federal securities laws,” The S.E.C statement read.
Trevon Brown, Craig Grant, Ryan Maasen, and Michael Noble were said to have made promotional and testimonial videos in exchange for commissions from Bitconnect.
Joshua Jeppesen was named as the link between Bitconnect and the promoters.
Trevon Brown, also known as Trevor James said on Twitter that the “real crypto OG’s will rally around” him.
Real crypto OG’s will rally around me.
The real ones that know the truth, and what happened from day 1.
Talk to you guys soon.⏳
However, he didn’t outrightly deny the allegations levelled against him.