CFTC files against My Big Coin

North America United States
Maciek Klimowicz
Written by Maciek Klimowicz

My Big Coin, a company that raised over US$6 million via an ICO, later allegedly used for a variety of luxury goods and personal expenses by its founders, has been hit by a federal court enforcement action from the Commodities and Futures Trading Commission (CFTC).

The commission accused the company of fraud, with the charges filed against the firm, as well as its creators –  Randall Crater and Mark Gillespie.

Bother the plaintiff’s assets have been frozen by a court judge of the Massachusetts districts and so were the assets of a number of individuals and one company, which, allegedly, provided no investment services from the clients they received money from.

 

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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