SEC obtains final judgments against three BitConnect promoters

The US Securities and Exchange Commission said on 30 September 2026 that a federal court in New York has entered final judgments against three people who promoted BitConnect and its “lending programme”: Michael Noble, Craig Grant and Trevon Brown. The judgments were entered between July and September in the SEC’s case in the US District Court for the Southern District of New York, filed in May 2021.

The three judgments

• Michael Noble: a final judgment entered on 17 July 2026 orders him to pay disgorgement of $731,281.00, prejudgment interest of $293,703.36 and a civil penalty of $50,000.00, a total of $1,074,984.36. A partial judgment on consent in August 2021 had already permanently barred him from further violations and from taking part in certain marketing or sales programmes and in digital asset securities offerings.
• Craig Grant: a final default judgment entered on 7 August 2026 orders disgorgement of $1,748,147.00, prejudgment interest of $702,105.84 and a civil penalty of $230,480.00, a total of $2,680,732.84. It also bars him from the same kinds of programmes and offerings.
• Trevon Brown: a final judgment on consent entered on 9 September 2026 orders disgorgement of $1,728,563.00, prejudgment interest of $182,902.15 and a civil penalty of $75,000.00, a total of $1,986,465.15.

Each judgment also permanently enjoins the promoter from violating the registration provisions of the Securities Act of 1933 and the broker-dealer registration requirement in the Securities Exchange Act of 1934.

What the SEC alleged

According to the SEC’s complaint, the three promoted BitConnect from about June 2017 to January 2018 and marketed and sold securities in its lending programme. The SEC alleged they did so without the offering being registered with the Commission and without being registered as broker-dealers themselves.

Why it matters for traders

The case targeted promoters, not only the scheme’s operators: people who market a crypto lending or yield programme can be held liable for selling unregistered securities even if they did not run it. Anyone being pitched fixed returns on deposited crypto can check whether the seller is registered before handing over money; our guide on how to check a broker licence covers the US registers and their equivalents abroad.

The litigation is being run by the SEC Division of Enforcement’s Cyber and Emerging Technologies Unit.