octubre 2, 2017 | Posted in:Blog
All Lawsuits Into a Single Case
A class action lawsuit that has been registered on behalf of a selection of individuals and entities is comprised by the complaint. All parties in the suit claim to have suffered financially after transferring cryptocurrencies and fiat monies to Bitconnect to invest in the Bitconnect Investment Programs, as well as BCC tokens.
According to lawyer David Silver of law firm Silver Miller, which was named the»Class Counsel» of this case, the consolidated complaint combines all of the lawsuits that were filed against Bitconnect into a single lawsuitExplore the bitcoincasinoreview.net Miller said that the consolidated lawsuit also names Bitconnect owners and promoters which were not previously targeted in the first complaints that were legal.
«As more information has become available, we have learned about more individuals involved in the rampant fraud connected with Bitconnect,» Silver explained and best bitcoin casino reddit. «The Amended Consolidated Class Action Complaint highlights those celebrities who participated in the creation of Bitconnect and the promoters of Bitconnect. The quantity of fraud, and the total amount of investment loss in such a short period of time is staggering. We hope to move the litigation along as quickly as possible and hold as many people accountable both in the United States and abroad.»
Plaintiffs Accuse Youtube of Negligence
The amended lawsuit claims the Bitconnect Lending Program and the Bitconnect Staking Program were «fraudulent Ponzi/pyramid schemes.» In addition, it accuses the company of using»multilevel affiliate markets» to promote its investment programs.
«Several of the promoter defendants had partnerships with Youtube pursuant to which the Bitconnect Defendants disseminated deceptive and harmful content to unsuspecting victims throughout the planet,» the law firm stated in the amended filing. «Youtube was negligent in failing to warn those victims of the harmful material, for which Youtube compensated their creators and publishers.»
In addition, the legal team claimed that the company»cloaked» its promotional materials in»technological sophistication and jargon» to run a deceptively»simple» fraudulent operation. «Victims would put money into the Bitconnect Investment Programs after they had been driven to Bitconnect because of profitable partnerships the promoter defendants had with Youtube,» it said. «Bitconnect would then pay present investors with new money from new investors, who were in turn expected and incentivized for more new investors to produce more new cash for Bitconnect.»
The plaintiffs seek to recover all of the funds they claim to have lost. In a statement, Miller said this outcome would be»ideal.»
Do you agree that Youtube was negligent in compensating Bitconnect promoters and failing to warn prospective investors of their»harmful content?» Share your thoughts in the comments section below!
Pictures courtesy of Shutterstock
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