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Author Topic: Find Trendon Shavers in person thread... [BTCST, BTS&T, pirateat40]  (Read 81068 times)
SebastianJu
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June 08, 2014, 07:04:20 PM
 #701

Doubtful... want to know why?
I tried to put action groups in place to get back property or prosecute people that scammed people and live in the USA.
The majority of bitcoiners say "Its not worth the time or effort" WE THE Bitcoin population allow this shit to continue due to the lack of action by the community.

Unfortunately many have this mindset. But i believe its changing. People start to call lawyers pretty fast now. The Labcoin Scammer gets investigated by italian police and so on. But with trendon youre right. The losers that lost their coins dont have an interest in "throwing good coins after bad coins". I didnt lose there so i wont take part but i would if i was a victim.

Please ALWAYS contact me through bitcointalk pm before sending someone coins.
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June 08, 2014, 09:31:33 PM
 #702

Madoff was arrested by the Federal Bureau of Investigation (FBI) on December 11, 2008, on a criminal charge of securities fraud.[152] According to the criminal complaint, the previous day[156] he had told his sons that his business was "a giant Ponzi scheme".[157][158] They called a friend for advice, Martin Flumenbaum, a lawyer, who called federal prosecutors and the SEC on their behalf. FBI Agent Theodore Cacioppi made a house call. "We are here to find out if there is an innocent explanation," Cacioppi said quietly. The 70-year-old financier paused, then said: "There is no innocent explanation."[17][153] He had "paid investors with money that was not there".[159] Madoff was released on the same day of his arrest after posting $10 million bail.[157] Madoff and his wife surrendered their passports, and he was subject to travel restrictions, a 7 p.m. curfew at his co-op, and electronic monitoring as a condition of bail. Although Madoff only had two co-signers for his $10 million bail, his wife and his brother Peter, rather than the four required, a judge allowed him free on bail but ordered him confined to his apartment.[160] Madoff has reportedly received death threats that have been referred to the FBI, and the SEC referred to fears of "harm or flight" in its request for Madoff to be confined to his Upper East Side apartment.[160][161] Cameras monitored his apartment's doors, its communication devices sent signals to the FBI, and his wife was required to pay for additional security.[161]

So this asshole gets sent to Jail but not Trendon? I'm not aware of who Madoff is but Trendon is a piece of shit for scamming everyone. All those BTC he scammed would be worth millions now. I'd really recommend all the investors to form a group action against him and them just have the law firm handle as much as possible.  I doubt Trendon only made a few hundred K, he probably has BTC stashed away and is a BTC millionaire. If there's a bunch of red tape because it isn't actual currency or something, Silk Road was taken down and that only involved BTC, so there shouldn't be a problem. All the info is out there Idk how this guy isn't in jail yet.
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June 09, 2014, 06:47:05 AM
 #703

I tried to put action groups in place to get back property or prosecute people that scammed people and live in the USA.
The majority of bitcoiners say "Its not worth the time or effort" WE THE Bitcoin population allow this shit to continue due to the lack of action by the community.
The losers that lost their coins dont have an interest in "throwing good coins after bad coins". I didnt lose there so i wont take part but i would if i was a victim.
I'd really recommend all the investors to form a group action against him and them just have the law firm handle as much as possible.
Not only do you need to find investors who want their money back, but you also need a local agent.
Even for a big bounty (see signature), nobody seems to be interested.

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June 09, 2014, 08:19:32 AM
 #704

I tried to put action groups in place to get back property or prosecute people that scammed people and live in the USA.
The majority of bitcoiners say "Its not worth the time or effort" WE THE Bitcoin population allow this shit to continue due to the lack of action by the community.
The losers that lost their coins dont have an interest in "throwing good coins after bad coins". I didnt lose there so i wont take part but i would if i was a victim.
I'd really recommend all the investors to form a group action against him and them just have the law firm handle as much as possible.
Not only do you need to find investors who want their money back, but you also need a local agent.
Even for a big bounty (see signature), nobody seems to be interested.


People would be more interested if there was a chance that people who participated in the scheme could recover some of their stolen coins from Trendon. But from reading all the information released here it appears that Mr. Shavers actually only gained a shockingly low amount of profit from the 5-10 million dollar scheme. And any profit that he did gain is almost certainly gone by now. So it would be futile to try to collect from someone who has no means to pay back. Unfortunate, but true.
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June 09, 2014, 12:22:02 PM
 #705

Doubtful... want to know why?
I tried to put action groups in place to get back property or prosecute people that scammed people and live in the USA.
The majority of bitcoiners say "Its not worth the time or effort" WE THE Bitcoin population allow this shit to continue due to the lack of action by the community.

Unfortunately many have this mindset. But i believe its changing. People start to call lawyers pretty fast now...

How's your Ukyo thing goin'? 
SebastianJu
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June 09, 2014, 03:47:05 PM
 #706

People would be more interested if there was a chance that people who participated in the scheme could recover some of their stolen coins from Trendon. But from reading all the information released here it appears that Mr. Shavers actually only gained a shockingly low amount of profit from the 5-10 million dollar scheme. And any profit that he did gain is almost certainly gone by now. So it would be futile to try to collect from someone who has no means to pay back. Unfortunate, but true.

That wasnt known from the start so that not the reason. But personally i doubt that he only got some coins out of it. Most probably he only was able to hide it.

Please ALWAYS contact me through bitcointalk pm before sending someone coins.
SebastianJu
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June 09, 2014, 03:50:14 PM
 #707

Doubtful... want to know why?
I tried to put action groups in place to get back property or prosecute people that scammed people and live in the USA.
The majority of bitcoiners say "Its not worth the time or effort" WE THE Bitcoin population allow this shit to continue due to the lack of action by the community.

Unfortunately many have this mindset. But i believe its changing. People start to call lawyers pretty fast now...

How's your Ukyo thing goin'? 

No result yet. If there would be a chance in sueing him i would do it.

Please ALWAYS contact me through bitcointalk pm before sending someone coins.
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September 19, 2014, 04:06:01 PM
 #708

Bitcoin Ponzi Scheme Perpetrator Trendon Shavers Fined $40 Million
http://www.coindesk.com/bitcoin-ponzi-scheme-perpetrator-fined-40-million/

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NotLambchop
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September 19, 2014, 04:43:57 PM
 #709

Bitcoin Ponzi Scheme Perpetrator Trendon Shavers Fined $40 Million
http://www.coindesk.com/bitcoin-ponzi-scheme-perpetrator-fined-40-million/



"Shavers, who was not represented by a lawyer during the trial," <== Roll Eyes

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September 19, 2014, 08:26:01 PM
 #710

Bitcoin Ponzi Scheme Perpetrator Trendon Shavers Fined $40 Million
http://www.coindesk.com/bitcoin-ponzi-scheme-perpetrator-fined-40-million/



"Shavers, who was not represented by a lawyer during the trial," <== Roll Eyes



There is also a 100 page deposition on line of him testifying with out a lawyer incriminating himself of all sorts of crimes.  Idiot. Hopefully criminal charges and jail time will follow.

NotLambchop
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September 19, 2014, 08:59:30 PM
 #711

@BCB thanks for the heads up, just found it and reading it now.  Surreal.  (probably in this thread somewhere, but in case not: http://www.scribd.com/doc/210845161/SEC-vs-pirateat40-1 )
MelMan2002
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September 19, 2014, 09:36:17 PM
 #712

Too bad he doesn't have any cash.  He'll just go through bankruptcy and nobody will ever see a dime.

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September 19, 2014, 10:27:20 PM
 #713

@BCB thanks for the heads up, just found it and reading it now.  Surreal.  (probably in this thread somewhere, but in case not: http://www.scribd.com/doc/210845161/SEC-vs-pirateat40-1 )

That's it.  Mind bogglingly stupid!

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September 19, 2014, 11:08:21 PM
 #714

Too bad he doesn't have any cash.  He'll just go through bankruptcy and nobody will ever see a dime.

I believe you cant take fines and such things into a bankruptcy. But im not sure.

Please ALWAYS contact me through bitcointalk pm before sending someone coins.
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September 20, 2014, 04:24:30 AM
 #715

Are pirates stupid?
He came with the profile name pirateat40.
Thats why he fined $ 40 million?

Whether Bitcoin accepted as currency are not, but the crimes using Bitcoin, can't escape law.

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September 21, 2014, 10:38:11 AM
 #716

There is also a 100 page deposition on line of him testifying with out a lawyer incriminating himself of all sorts of crimes.  Idiot. Hopefully criminal charges and jail time will follow.

It will. The FBI is very interested in Shavers. The SEC case was just the civil case. The criminal case is coming next.
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November 06, 2014, 11:40:13 AM
 #717

It sounds like not a single cent will be paid back to those who got screwed.

While reading what I wrote, use the most friendliest and relaxing voice in your head.
BTW, Things in BTC bubble universes are getting ugly....
SebastianJu
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November 06, 2014, 01:37:13 PM
 #718

It sounds like not a single cent will be paid back to those who got screwed.

Most probably i think. Though i think a bitcoin scammer in jail is good news anyway for the community. At the moment bitcoin world is a scammer paradise. This should change. And trendon would be a good sign for that.

Please ALWAYS contact me through bitcointalk pm before sending someone coins.
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November 06, 2014, 02:14:57 PM
 #719

It sounds like not a single cent will be paid back to those who got screwed.

Most probably i think. Though i think a bitcoin scammer in jail is good news anyway for the community. At the moment bitcoin world is a scammer paradise. This should change. And trendon would be a good sign for that.

Still waiting for Jon to send you your coins, buddy?

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November 06, 2014, 10:25:27 PM
 #720

FYI,  for those catching up.
http://abcnews.go.com/Technology/wireStory/feds-announce-1st-bitcoin-securities-fraud-case-26734204

US Announces 1st Bitcoin Securities Fraud Case
NEW YORK — Nov 6, 2014, 12:47 PM ET
By LARRY NEUMEISTER Associated Press
 Associated Press
The federal government on Thursday announced its first bitcoin securities fraud case, accusing a Texas man of engineering a Ponzi scheme by getting people to turn over their bitcoins in return for promises of high interest rates and the ability to recoup their investment at any time.

Trendon Shavers, of McKinney, awaited an initial court appearance in Texas on securities fraud and wire fraud charges that were outlined in a criminal complaint unsealed in U.S. District Court in Manhattan.

"This case, the first of its kind, should serve as a warning to those looking to make a quick buck with unsecured currency," U.S. Attorney Preet Bharara said in a news release.

Bharara said the 32-year-old Shavers combined financial fraud and cyberfraud into a bitcoin Ponzi scheme offering "absurdly high interest payments, and ultimately cheated his investors out of their bitcoin investments."

At the peak of the scheme, Shavers possessed about 7 percent of all bitcoin in public circulation, prosecutors said.

George Venizelos, head of the FBI's New York office, said Shavers "used a new currency, but the same old reprehensible tricks."

"He claimed to offer a bitcoin market-arbitrage strategy. In reality, it was nothing more than an insidious scheme motivated by greed. Today, Shavers' jig is up," Venizelos said.

Bharara said Shavers caused about half of 100 investors to lose all or part of their bitcoin investment from at least September 2011 through September 2012 as he promised them up to 7 percent weekly interest and assured them they could withdraw their investment at any time if they turned over bitcoins.

Authorities say Shavers has already been ordered by a federal court in Texas to give up more than $40 million and pay a $150,000 penalty in a related civil case.

It isn't clear who will represent Shavers in court. Shavers did not immediately respond to a message for comment.

If convicted, he could face up to 40 years in prison.
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