John Bigatton, former Bitconnect Australian National Representative, is the subject of an
ongoing investigation
by the Australian Securities and Investments Commission (ASIC).

As part of ASIC’s investigation, Bigatton has been slapped with a seven year financial services ban.

Although ASIC states its investigation into Bigatton (right, with his missing wife) is ongoing, thus far the regulator has

found that, in connection with his promotion of BitConnect and the BitConnect Lending Platform, Mr Bigatton  provided unlicensed financial product advice and engaged in conduct, in relation to financial products and financial services, which was misleading or deceptive or was likely to mislead or deceive.

ASIC further found that Mr Bigatton:

-is not a fit and proper person to provide financial services;

-is not adequately trained, or is not competent, to provide a financial service or financial services; and

-is likely to contravene a financial services law.

What
the findings
might lead to with respect to ASIC’s ongoing investigation, including possible criminal charges, is unclear.

Update 18th November 2020 –
Asic has
filed criminal charges against John Bigatton
.

Update 19th May 2024 – 
John Bigatton has
pled guilty to providing unlicensed financial services on behalf of another person
.

🤖 Quick Answer

Who is John Bigatton and what regulatory action has been taken against him?
John Bigatton, former BitConnect Australian National Representative, faces a seven-year financial services ban imposed by the Australian Securities and Investments Commission (ASIC). The regulator found he provided unlicensed financial advice and engaged in misleading conduct regarding BitConnect and its Lending Platform, determining he is unfit to provide financial services.

What violations did ASIC identify in Bigatton's conduct?
ASIC's investigation determined that Bigatton provided unlicensed financial product advice and engaged in conduct related to financial products that was misleading, deceptive, or likely to mislead or deceive consumers regarding his promotion of BitConnect and its associated lending platform.

What is the duration and scope of the imposed ban?
Bigatton received a seven-year financial services ban, preventing him from providing

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