Following certificates of default entered in opposition to Craig Grant and Trevon James in late August, the SEC has filed proposed orders in opposition to the BitConnect Ponzi promoters.
The SEC’s proposed order was filed on September sixteenth. The order, if granted, permits for Grant and James to “present trigger” as to why default judgment shouldn’t be granted in opposition to them.
Along with everlasting injunctions issued in opposition to Grant and James, prohibiting additional acts of securities fraud, default judgment orders would see them responsible for $2.6 million and $3.5 million respectively.
Damaged down, for Craig Grant this involves:
- $1,748,147 in disgorgement
- $701,105.84 in prejudgment curiosity and
- a $230,480 civil penalty
And for Trevon James (proper):
- $2,338,673 in disgorgement
- $939,277.92 in prejudgment curiosity and
- a $230,480 civil penalty
At time of publication approval of the SEC’s proposed orders stays pending.
If the proposed order is granted, Grant and James can have until October 18th to reply.
In 2019 James claimed he could be unable to pay again two million the SEC introduced up in a cellphone name with him.
On the time James was driving round in a brand new BMW SUV and had simply bought land to construct a home on. In since deleted YouTube movies, James was additionally asking for recommendation on investing “one million {dollars}” into real-estate.
Craig Grant fled the US for Jamaica. Over the previous few years Grant has spent cash renovating a sprawling household property north-west of Albert City.
A September eighth, 2024 YouTube video suggests Grant just lately paid for a zipline to be put in on the property.