My Big Coin Ordered To Pay $26M In Fines To CTFC
My Big Coin operators have been ordered to pay approximately $25.8 million in fines by a Massachusetts federal court. The Commodity Futures Trading Commission (CFTC) issued a default judgment against My Big Coin Pay, Inc., My Big Coin, Inc., and executives Mark Gillespie and John Roche, imposing $19.32 million in civil penalties and $6.44 million to defrauded investors. Gillespie, Roche, and the companies are barred from market participation under CFTC jurisdiction. The CFTC alleges they defrauded 28 investors of over $6 million from January 2014 to June 2017 through false claims about My Big Coin's value and backing. The case against another operator, Michael Kruger, was dropped due to his death. Randall Crater was previously ordered to repay $7.6 million to investors and is serving over eight years in prison for multiple fraud counts. The CFTC warned investors may not recover their funds due to insufficient assets from the wrongdoers.
