octubre 6, 2017 | Posted in:Blog

Amendment Combines
All Lawsuits Into a Single Instance

A class action suit that’s been registered on behalf of a selection of entities and individuals is comprised by the complaint. All parties in the lawsuit claim to have suffered after transferring fiat monies and cryptocurrencies to Bitconnect to invest in BCC tokens, in addition to the Bitconnect Investment Programs.

According to lawyer David Silver of law firm Silver Miller, which was named the»Class Counsel» of this situation, the consolidated complaint combines all of the lawsuits that were filed against Bitconnect into a single lawsuitbitstarz site Miller said that the merged lawsuit names Bitconnect owners and promoters that were not previously targeted in the initial legal complaints.

«As more information has become available, we’ve 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 actors who participated in the creation of Bitconnect and the promoters of Bitconnect. The amount of investment loss in a brief time period, and the amount of fraud 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.» It also accuses the company of using»multilevel affiliate markets» to market 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 globe,» the law firm mentioned in the amended filing. «Youtube was negligent in failing to warn those victims of the harmful material, for which Youtube paid 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» deceptive operation. «Victims would invest in the Bitconnect Investment Programs after they were driven to Bitconnect because of lucrative partnerships the promoter defendants had with Youtube,» it stated. «Bitconnect would then pay existing investors with new money from new investors, who were in turn expected and incentivized to get more new investors to produce more new cash for Bitconnect.»

The plaintiffs seek to recover the funds all 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!

Images courtesy of Shutterstock

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Source: bitcoincasinoreview.net

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