According to reports from Wu, the U.S. Commodity Futures Trading Commission (CFTC) announced that the Federal Court of Massachusetts has issued a final default judgment in the My Big Coin cryptocurrency fraud case, imposing approximately $25 million in fines and restitution.
The court ruled that Mark Gillespie, John Roche, and the companies they controlled must pay approximately $19.32 million in civil penalties and $6.44 million in restitution. The case involves deceiving at least 28 investors and illegally raising over $6 million between 2014 and 2017.
Mastermind Randall Crater has been sentenced to 100 months in prison. The CFTC warned that there is still uncertainty regarding asset recovery.