Glenn Arcaro, Founder of Fraudulent Cryptocurrency Investment Scheme BitConnect, Sentenced to 38 Months in Prison

Glenn Arcaro, the promoter of the fraudulent cryptocurrency investment scheme BitConnect, was sentenced to 38 months in prison, according to news published on the U.S. Department of Justice website. According to court documents, Glenn Arcaro conspired to cause losses to 4,145 investors in 95 countries by promising high returns on investments in cryptocurrencies. Glenn Arcaro claims he made at least $24 million through BitConnect, which will be returned to investors or seized by the government.