Litigation Releases (Trevon Brown, Craig Grant, and Michael Noble)

1. Home
2. Enforcement and Litigation
3. Litigation Releases
4. Trevon Brown, Craig Grant, and Michael Noble

Trevon Brown, Craig Grant, and Michael Noble

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 26660/ September 30, 2026

Securities and Exchange Commission v. Brown et al.

, No. 1:21-cv-04791 (S.D.N.Y. filed May 28, 2021)

SEC Obtains Judgments Against Three BitConnect Promoters

On July 17, 2026, the United States District Court for the Southern District of New York entered a final judgment against Michael Noble for his involvement with BitConnect and the promotion of BitConnect's "lending program." The final judgment against Noble orders him to pay disgorgement in the amount of $731,281.00, prejudgment interest in the amount of $293,703.36, and a civil penalty in the amount of $50,000.00, for a total of $1,074,984.36. Previously, in a partial judgment on consent entered on August 12, 2021, the Court ordered permanent injunctions enjoining Noble from violating Section 5 of the Securities Act of 1933 and Section 15(a) of the Securities Exchange Act of 1934 and conduct-based injunctions permanently enjoining him from offering, operating, or participating in certain marketing or sales programs and from participating directly or indirectly in a digital asset securities offering.

On August 7, 2026, the Court entered a final default judgment against Craig Grant for his alleged involvement with BitConnect and the promotion of its "lending program." The final judgment against Grant permanently enjoins him from violating Section 5 of the Securities Act and Section 15(a) of the Securities Exchange Act, from offering, operating, or participating in certain marketing or sales programs, and from participating directly or indirectly in a digital asset securities offering. The judgment also orders Grant to pay disgorgement in the amount of $1,748,147.00, prejudgment interest thereon in the amount of $702,105.84, and a civil penalty in the amount of $230,480.00, for a total of $2,680,732.84.

On September 9, 2026, Court entered a final judgment on consent against Trevon Brown for his alleged involvement with BitConnect and the promotion of its "lending program." The final judgment against Brown, permanently enjoins him from violating Section 5(a) and 5(c) of the Securities Act and Section 15(a) of the Securities Exchange Act, and orders him to pay disgorgement in the amount of $1,728,563.00, prejudgment interest thereon in the amount of $182,902.15, and a civil penalty in the amount of $75,000.00 for a total of $1,986,465.15,

According to the SEC's complaint, filed on May 28, 2021, from approximately June 2017 to January 2018, Noble, Grant and Brown promoted BitConnect and marketed and sold securities in its "lending program." The SEC's complaint alleged that Noble, Grant, and Brown offered and sold the securities without registering the securities offering with the Commission, and without being registered as a broker-dealer with the Commission, as required by the federal securities laws.

The SEC's litigation is being conducted by senior trial counsel Todd D. Brody, supervised by Laura D'Allaird Chief of the Division of Enforcement's Cyber and Emerging Technologies Unit and Jack Kaufman.