John Bigatton fronts court over alleged bitcoin mega scam

The Australian promoter of an alleged global cryptocurrency scam faced court wearing sneakers and a hoodie. It’s alleged he ripped off mum and dad investors in a scheme worth billions.

UPDATE

A man accused of participating in a multi-billion dollar global Bitcoin scam will stand trial - although not until next year.

It is alleged Australian mum and dad investors were ripped off as part of the scheme.

John Bigatton was arraigned in Sydney District Court on Friday (June 11) where he entered pleas of not guilty to all his charges.

His case will next go before the court for a readiness hearing on April 22 prior to the June 6 trial date.

EARLIER

BY EMILY MACDONALD ON MAY 12 2021

A man who ASIC alleges helped rip off mum and dad investors in a scheme worth billions of dollars is set to stand trial after maintaining his innocence.

John Louis Anthony Bigatton, 52, of Carss Park fronted Downing Centre Local Court on Tuesday (May 11).

The former high flying businessman, whose wife Madeline is still listed as a missing person following her disappearance in 2018, was dressed informally for his date with Magistrate Jennifer Atkinson.

John Bigatton (right) and lawyer Liam Macandrews (left) outside Downing Centre Local Court

Madeline was last seen nears the cliffs of Kurnell in southern Sydney.

Bigatton is charged with one count each of operating an unregistered managed investment scheme and unlawfully providing financial services for a principal and four counts of providing false or misleading information affecting market participation.

Bigatton’s lawyer Liam Macandrews told the court his client was maintaining his not guilty plea.

“Pleas of not guilty are confirmed all charges against you,” Magistrate Atkinson said.

“This is a matter that needs to be finalised in the District Court.”

Bigatton, who is not subject to bail, will next appear in the District Court on June 11 where he is due to be committed to stand trial.

According to a media statement from ASIC, Bigatton promoted the online cryptocurrency platform, BitConnect, between August 2017 and January 2018.

“It is estimated that BitConnect had a market capitalisation of over US$2.5 billion in December 2017,” the ASIC statement reads.

Madeline Bigatton, 48, has been missing from Carss Park since March 25 2018. Picture: Supplied

“ASIC alleges Mr Bigatton operated an unregistered managed investment scheme known as the BitConnect Lending Platform in Australia and that he provided unlicensed financial advice on behalf of another person in, amongst other things, seminars he conducted at various locations around Australia.

“ASIC further alleges that during four seminars conducted by Mr Bigatton, he made false or misleading statements which were likely to induce investors to apply for, or acquire, interests in the BitConnect Lending Platform.”