Prominent Australian BitConnect representative John Louis Anthony Bigatton has conceded guilt to a legal accusation pressed by Government Prosecutors.
On May 16th, Bigatton acknowledged guilt to a single charge of dispensing unlicensed financial services in another’s stead.
According to a media announcement on May 17th from the Australian Securities and Investments Commission;
Mr. Bigatton engaged in promotional acts for BitConnect and the associated Lending Platform on numerous platforms, including social media, seminars he orchestrated across various Australian sites, and in direct consultations with potential financiers.
Mr. Bigatton furnished financial product counsel without possessing an Australian Financial Services license or the authorization needed to offer financial advice about the Lending Platform and BCC, on six separate occurrences across Australia by means of seminars (four) and postings on social media (two).
Bigatton, who was the prime promoter for BitConnect in Australia, faced criminal indictment in 2020. The admission of guilt by Bigatton seems to have led to a reduction of the initial three accusations down to one.
In the same timeframe as his indictment, ASIC imposed a prohibition on Bigatton, preventing him from partaking in financial service activities for a duration of seven years.
The fate of Bigatton’s spouse, Madeline, remains one of the lingering enigmas.
Amidst the turmoil following BitConnect’s downfall in January 2018, financial woes reportedly beset Bigatton and his wife (pictured to the right).
Madeline was reported missing on March 25th, 2018. Her vehicle was later located by officials at a cliffside lookout.
A kinsperson commented that in the days preceding her mysterious disappearance, Mrs. Bigatton alluded to being in a ‘dark place’ but maintained that self-harm was completely alien to her nature.
Although Madeline’s wedding band was discovered in the vehicle, her remains have yet to be found.
Merely days following Madeline’s vanishing act, John Bigatton was seen celebrating Easter with family members, seemingly undisturbed by the uncertainty surrounding his wife’s whereabouts.
The conundrum of what transpired to Madeline remains unresolved to this day.
The sentencing hearing for John Bigatton’s criminal proceedings has been set for July 5th.