BitConnect: SEC reports 2026 judgments against three promoters
Separate civil judgments against Noble, Grant and Brown update the earlier Arcaro criminal sentencing record.
- Cited claims
- 3
- Source records
- 3
- Edition revision
- 2
In this investigation
Three later civil judgments
A 30 September 2026 SEC release reports judgments against Michael Noble on 17 July, Craig Grant on 7 August and Trevon Brown on 9 September. Their respective monetary obligations total approximately $1.07 million, $2.68 million and $1.99 million. These are civil securities-registration proceedings against those promoters, with different procedural outcomes. They should not be described as three new criminal fraud convictions or as Kumbhani's case outcome.
A promoter's sentence
DOJ announced in September 2022 that Glenn Arcaro, a US promoter of BitConnect, had been sentenced to 38 months in prison. The announcement said he conspired to market the cryptocurrency business fraudulently and admitted earning at least $24 million from the scheme. The case involved investors across many countries.
What the programme claimed to do
Investors were told that proprietary trading technology could exploit cryptocurrency-market volatility and generate substantial profits with guaranteed returns. The sentencing record describes a different source of payments: funds from later investors were used to pay earlier participants. Some investment money also went into a fund benefiting the owner and promoters.
Separate defendants, separate outcomes
A February 2022 DOJ announcement concerned an indictment of founder Satish Kumbhani. That charging record is not the same as Arcaro's sentencing record and must not be presented as a conviction of every person named in the wider case. The archive establishes the identified events and their dates; it does not substitute for a current docket check.
Sources, dates and limits
Checked 23 October 2026 against the SEC's September 2026 release and the earlier DOJ records. Noble, Grant, Brown, Arcaro and Kumbhani have separate procedural histories. An obligation in a judgment is not a verified payment to victims.
Evidence & sources
- Adjudicated finding
DOJ's September 2022 record reports Glenn Arcaro's prison sentence and describes BitConnect payments to earlier investors from later investors' money.
Supporting excerpt: U.S. Promoter of Foreign Cryptocurrency Company Sentenced to Prison for Role in Fraud Scheme
paying earlier BitConnect investors with money from later investors
U.S. Promoter of Foreign Cryptocurrency Company Sentenced to Prison for Role in Fraud Scheme ↗ - Filed allegation
The separate February 2022 DOJ announcement charged BitConnect founder Satish Kumbhani; those charges must not be conflated with Arcaro's conviction.
Supporting excerpt: BitConnect Founder Indicted in Global $2.4 Billion Cryptocurrency Scheme
Indicted
BitConnect Founder Indicted in Global $2.4 Billion Cryptocurrency Scheme ↗ - Adjudicated finding
A 30 September 2026 SEC release reports judgments against Michael Noble on 17 July, Craig Grant on 7 August and Trevon Brown on 9 September. Their respective monetary obligations total approximately $1.07 million, $2.68 million and $1.99 million. These are civil securities-registration proceedings against those promoters, with different procedural outcomes. They should not be described as three new criminal fraud convictions or as Kumbhani's case outcome.
Supporting excerpt: SEC.gov | Trevon Brown, Craig Grant, and Michael Noble
September 30, 2026
SEC.gov | Trevon Brown, Craig Grant, and Michael Noble ↗
