Wu Shuo learned from Bitcoin News that the U.S. Commodity Futures Trading Commission (CFTC) announced that the Massachusetts Federal Court has issued a final default judgment in the My Big Coin crypto fraud case, imposing a total fine and compensation of approximately 25 million USD.

The court ruled that Mark Gillespie, John Roche, and the entities they control, My Big Coin Pay Inc and My Big Coin Inc, must jointly pay about 19.32 million USD in civil fines and 6.44 million USD in compensation.

The case involved deceptive promotion of a false "gold backing" to at least 28 investors between 2014 and 2017, illegally raising over 6 million USD. The mastermind Randall Crater has been sentenced to 100 months in prison. The CFTC warned that asset recovery remains uncertain.

Wu Shuo learned from Bitcoin News that the U.S. Commodity Futures Trading Commission (CFTC) announced that the federal court in Massachusetts has issued a final default judgment in the My Big Coin crypto fraud case, imposing total fines and compensation of approximately 25 million USD. The court ruled that Mark Gillespie, John Roche, and their controlled entities My Big Coin Pay Inc and My Big Coin Inc must jointly pay about 19.32 million USD in civil fines and 6.44 million USD in compensation. The case involves activities from 2014 to 2017, during which the parties involved used false "gold backing" claims to deceive at least 28 investors and illegally raised more than 6 million USD. The mastermind Randall Crater has been sentenced to 100 months in prison. The CFTC warned that asset recovery remains uncertain.

U.S. Court Fines and Orders Compensation of 25 Million USD in My Big Coin Fraud Case