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BitConnect promoter Calen Powell detained by the FBI

Anvita M V

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BitConnect promoter Calen Powell detained by the FBI
Source: Unsplash


After the failure of BitConnect came to light in January this year, the U.S law enforcement seems to have a watchful eye on people associated with BitConnect.

In a recent YouTube video released by Calen Powell, also known as Crypto Clover, [who refers to himself as a“crypto nomad”], he claims to have been restrained, threatened and questioned by the FBI. He also stated that the FBI seized all his money and electronics when he tried to enter the U.S.

Earlier this year, a news broke concerning BitConnect, when the cryptocurrency exchange made a sudden exit from the crypto market. BitConnect was Bitcoin’s biggest scam till date in the cryptocurrency world, operating as a Ponzi scheme [fraudulent investment scheme falsely claiming high returns with little or no risk to investors] for BTC investors.

Before the revelation of the scam, the firm’s promoters were active in the sale and purchase of cryptocurrency tokens. They also strongly pushed Bitcoin [BTC] as a positive investment option.

According to the investigation, BitConnect had registered an official address in the UK and the address was just a cover-up to hide the company’s additional dealings.

An official statement issued by the investigators said:

“The promoters used to mention a special software that used to decide on how low and high points of Bitcoin for purchase and sale respectively. The difference used to be earning and the firm had promised 365% annual return on 1% daily.”

Recently, Powell’s latest home has raised brows of the law enforcers. However, the cryptocurrency nomad claimed that all the allegations were baseless.

In his video, he said:

“This is all in Asia.. you got to go to India… you’re looking at the wrong people, “

Powell indicates that his past might serve as an advantage in the investigation. He said:

“I do have a legal past… so they know about that. The FBI… the ability for them… the information they have access to and the things that they can get from me… They just have a lot of information that they can pull on me. They know about my history, my past already… if they’ve done their due-diligence.”

He added:

“So I’m gonna be talking with the FBI now and dealing with them a little bit. Hopefully they don’t block my passport and not allow me to leave the country. But I tell you what man, when I leave the country I don’t know if I’m coming back for a long, long time.”

Furthermore, he said that he is looking to get a second passport made, just like Glenn Arcaro [Director of BitConnect] when he made his famous exit from the crypto market. Powell went on to say, Glenn did that only to travel with ease in case his U.S. passport had some sort of restriction and Powell would like to do the same in the future.

Powell also explains that he has not been contacted by the SEC and he will be seeking legal advice. Meanwhile, he has assured that he will cooperate with the FBI.





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Anvita Mysore Vadiraj is a full-time content writer at AMBCrypto. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies.

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