According to Bitcoin News, the U.S. Commodity Futures Trading Commission (CFTC) announced that a federal court in Massachusetts has issued a final default judgment in the My Big Coin cryptocurrency fraud case, imposing a total fine and restitution of approximately $25 million. The court ruled that Mark Gillespie, John Roche, and their controlled entities My Big Coin Pay Inc and My Big Coin Inc must collectively pay about $19.32 million in civil penalties and $6.44 million in restitution. The case involved the parties deceiving at least 28 investors with false 'gold backing' promotions from 2014 to 2017, illegally raising over $6 million. The mastermind, Randall Crater, has been sentenced to 100 months in prison. The CFTC warned that asset recovery remains uncertain.
