My Big Coin encryption fraud case final judgment: founder must pay $25.768 million in fines and compensation

MinerOldCannon · 2025-06-13T06:21:03+00:00

The federal court in Massachusetts ruled on the My Big Coin Crypto Assets fraud case, ordering the defendants to pay a fine of $19.326 million and $6.442 million in damages. The trial pointed out that the defendants falsely promoted My Big Coin as a legitimate Crypto Asset, resulting in losses of over $6 million for 28 investors.

MinerOldCannon

2025-06-13 06:21:03

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On June 13, the Federal Court of Massachusetts issued a final judgment in the My Big Coin Crypto Assets fraud case, requiring the parties involved to collectively pay a fine of $19.326 million and $6.442 million in victim compensation.

The defendants include Mark Gillespie from Michigan, John Roche from California, and two companies from Nevada, My Big Coin Pay Inc. and My Big Coin Inc. The court found that they falsely advertised My Big Coin (MBC) as a legitimate Crypto Asset backed by gold during the period from 2014 to 2017, while these claims were completely fabricated.

Fraudulent activities have resulted in total losses exceeding 6 million dollars for at least 28 individual investors. The main conspirator, Randall Crater, has been convicted and sentenced to 100 months in prison. The CFTC warns that due to the defendant’s potential lack of sufficient resources, the recovery of victim funds is uncertain.

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