Australian court convicts John Bigatton, BitConnect promoter, of providing unlicensed financial advice between 2017 and 2018.

Aussie John Louis Anthony Bigatton, the national promoter of the BitConnect Ponzi scheme, has been convicted by the Sydney District Court of providing unlicensed financial advice, the Australian Securities & Investments Commission (ASIC) said on Monday.

In the Jul. 15 press release, the regulator said that Bigatton was released on a “recognisance to be of good behaviour for three years” after promoting BitConnect in Australia “in seminars and on social media” between late 2017 and early 2018.