John Bigatton, the Australian promoter of the now-defunct cryptocurrency trading platform BitConnect, has been convicted by the Sydney Magistrates' Court for providing unlicensed financial advice, July 15 news. John Bigatton was sentenced on Friday to three years of good conduct recognition and disqualified from managing the company for five years, according to court records and a statement from the country's corporate regulator on Sunday. The proceedings are now being overseen by the Australian Federal Police under the Proceeds of Crime Act and are still ongoing in the Supreme Court of NSW. It is understood that Bigatton was previously banned from providing financial services by ASIC for seven years in 2020. In May this year, he pleaded guilty to providing unlicensed financial advice.