NEW YORK: The US markets watchdog on Wednesday sued an online cryptocurrency lending company and its top executives over allegations of fraudulently raising $2 billion (RM 8.3 billion) in investments.The Securities and Exchange Commission (SEC) has charged BitConnect, its founder Satish Kumbhani, its top US promoter Glenn Arcaro and his company with offering “a fraudulent and unregistered offering and sale of securities in the form of investments in a ‘Lending Program,‘” an SEC statement said.The complaint says the defendants claimed the company’s “proprietary ‘volatility software trading bot’” would “generate exorbitantly high returns” on investors’ money.But the SEC has charged that, in fa
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