Crypto Firm Founder Indicted for Alleged $2 Billion Fraud

A man looks at a stock market chart in Irvine, Calif., on April 9, 2021. John Fredricks/The Epoch Times

SAN DIEGO—A grand jury indictment was returned Friday charging the founder of cryptocurrency company BitConnect with federal crimes for his role in allegedly defrauding investors out of more than $2 billion, according to the U.S. Attorney’s Office in San Diego.

Satishkumar Kurjibhai Kumbhani, 36, of Surat, Gujarat, India, is accused in what the U.S. Attorney’s Office said is believed to be the largest cryptocurrency fraud ever criminally charged.