The Securities and Exchange Commission announced September 30, 2026 that it obtained final judgments against three promoters of BitConnect’s “lending program”: Michael Noble, Craig Grant and Trevon Brown. The SEC’s complaint, filed May 28, 2021 in the Southern District of New York, alleged they offered and sold unregistered securities from about June 2017 to January 2018 without being registered as broker-dealers.
On July 17, 2026 the court ordered Noble to pay $731,281 in disgorgement, $293,703.36 in prejudgment interest and a $50,000 penalty, $1,074,984.36 in total. On August 7, 2026 it entered a default judgment against Grant for $1,748,147 in disgorgement, $702,105.84 in interest and a $230,480 penalty, $2,680,732.84 in total. On September 9, 2026 it entered a consent judgment against Brown for $1,728,563 in disgorgement, $182,902.15 in interest and a $75,000 penalty, $1,986,465.15 in total.
The judgments also permanently enjoin each man from violating registration provisions of the securities laws and bar them from participating in a digital asset securities offering.