My Big Coin execs to pay nearly $26M in fines to CTFC
The CFTC said that My Big Coin investors might not get their money back as the alleged operators “may not have sufficient funds or assets.”
The alleged operators of My Big Coin have been ordered to pay around $25.8 million in fines to the Commodity Futures Trading Commission for their roles in the crypto scheme.
The CFTC said on Wednesday that a Massachusetts federal court judge entered a default judgment ordering My Big Coin Pay, Inc., My Big Coin, Inc., and its executives, Mark Gillespie and John Roche, to pay $19.32 million in civil monetary penalties and $6.44 million to investors they allegedly defrauded.
Gillespie, Roche and the companies were also barred from participating in markets or conducting any other market-related activities that fall under the jurisdiction of the CFTC.
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