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Author Topic: Trendon Shavers-Philip Moustakis-United States Securities & Exchange Commission  (Read 14066 times)
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October 26, 2012, 11:29:36 PM
 #1

Philip Moustakis
Senior Attorney
Division of Enforcement
United States Securities & Exchange Commission
3 World Financial Center, Suite 400, New York, NY 10281-1022
(212) 336-0542

The there is a lot of FUD in "Got off the phone with the Guy from the S.E.C"  thread: https://bitcointalk.org/index.php?topic=112438.220
DO NOT READ IT.  It is full of misinformation.  

This should be the thread to discuss how you can participate in the SEC investigation. Maybe Phil will even sign up and answer your questions (but that may be a conflict of interest for him).  Theymos, if he does please let him out of the newbee sections.

The links above and below contain a pdf from the SEC on google docs that contain the full text of your right to voluntarily supply information to an SEC civil investigation.  It a little long and daunting and can freak people out but I'll pull out the highlights below.

https://docs.google.com/open?id=0B-33azoziRiZbTFXc0lxcV9SWHc


I also just got off the phone with Philip Moustakis.  Nice guy.  We chatted for about an hour. Unfortunately any info others have given me is not relevant to him as he needs to speak with defrauded investors.  Without witness willing to come forward to explain to the SEC the nature of their investments with Trendon Shavers they can't  make a case.  If they can not make a case  then Trendon Shavers stays on the beach in Mexico spending your precious bitcoin.

Here is the deal.  This is NOT a criminal investigation.  This is a civil action.  Philip is essentially on a fact finding mission.  At the end of this fact finding he has to present the FACTS to the Commissioners and they decided if there is enough evidence to make a case against Trendon Shavers.  If there is not enough evidence,  Trendon Shavors remains on the Beach in Mexico spending what remains of your Bitcoins.

AS PER US SECURITIES LAW: THE SEC WANTS TO KNOW IF TRENDON SHAVER MADE ANY MISREPRESENTATION OR MATERIAL OMISSION TO YOU, ON WHICH YOU RELIED TO MAKE AN INVESTMENT DECISION IN ANY BITCOIN SECURITIES OFFERING.  IF THIS IS THE CASE SECURITIES LAWS WERE VIOLATED AND THEY MAY BE ABLE TO PURSUE PROSECUTION.  

HOWEVER IF YOU WERE A PPT AND YOU ALSO MISREPRESENTED OR OMITTED RELEVANT INFO ON WHICH YOUR INVESTORS RELIED TO MAKE INVESTMENT DECISIONS THEN YOU ALSO VIOLATED SECURITIES LAW.   YOU'RE FUCKED.  GAME OVER.  TRENDON WINS.  

So while PPT guys may be out if they knew of trendon's fraud,  EVERY regular investor should get on the phone on Tuesday and call Phil  at  (212) 336-0542 and talk to him or set up an interview if you are in NY.  While there are many many victims, if no one comes forward they can not prosecute and Trendon walks.

[EDIT]
There is also the possibly that under appropriate circumstances, the SEC can offer a witness a proffer agreement, and that there are certain cooperation tools at these disposal.  You should discuss exactly what that means with Phil if you don't already know.
[/EDIT]

Call Phil  and talk to him.  (212) 336-0542


Phil is not going to answer your questions about the investigation.  Any information about the investigation is not publicly available.  Any evidence you provide will also NOT be made publicly available, however it will be shared internally and with appropriate authorities.  

If you decided to get involved know that you are being interviewed VOLUNTARILY.   You can terminate the interview at any time.  You can refuse to answer any question at any time.  (It is not an interrogation). You have to state what country you are from as US involvement with witness from to foreign jurisdictions  may have to be approved or handled in a certain way.  You have to to tell the SEC who you are and how to get in touch with you. If the information in the interview is helpful and a civil action is brought against Trendon you may have to participate in civil action.  

The SEC has NO criminal authority.  No one is going to arrest you, however they can refer matters so state or local authorities.

You DO NOT want to give false statements.

Again the gritty details on in this 5 page pdf file:
https://docs.google.com/open?id=0B-33azoziRiZbTFXc0lxcV9SWHc

If you DO NOT take action Trendon Shaver fraud continues and he wins. It 's as simple as that.  

TIME IS OF THE ESSENCE.  

**** I am not a lawyer.  this is my recollection of my telephone conversation with Phllip Moustakis. I will also be emailing this text to Phillip to to correct any factual errors or inaccuracies.
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October 26, 2012, 11:40:15 PM
 #2

Interesting.

Behind outside the US, is that phone number the only option to communicate with him?
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October 26, 2012, 11:41:24 PM
 #3

email him.  He has a blackberry.
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October 26, 2012, 11:48:09 PM
 #4

email him.  He has a blackberry.

I can't seem to find an email anywhere.

*EDIT*

Ok, I found this email:
moustakisp@sec.gov

It seems legit  Grin
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October 26, 2012, 11:51:58 PM
 #5

email him.  He has a blackberry.

I can't seem to find an email anywhere.

MOUSTAKISP@sec.gov

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
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October 26, 2012, 11:57:17 PM
 #6

When I talked to him it was 100%, on my own accord and he asked me if I was willing to speak. I have nothing to hide so, I answered all his questions. He may not have a forum account but his interns do read this forum do not get that wrong. He was asking me information about stuff you would only know if you read it here, I have a feeling as he talked to more people the question became more and more direct to what he wanted to know. But overall he is a very nice man, and I would urge you to talk to him.

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October 27, 2012, 12:06:20 AM
 #7

I'm out of the USA but I'm willing to talk.

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October 27, 2012, 01:51:09 AM
 #8

Also, the forum has no problem with turning over any/all correspondence Pirate has made. All they have to do is ask theymos. His contact information is listed at theymos.com

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October 27, 2012, 04:03:57 AM
 #9

Actually, what you wrote up there is one of the best descriptions of what the SEC does. It's hard to explain to people that have never looked into it.

If you are a pirate investor you should follow it to the letter.

Please don't think you are losing anything by giving up your anonymity. I know many people in this community see anonymity as being the most precious resource, but I promise its not worth that much in this context.

Also, don't consider this to be "snitching." This is not the police as BCB said.

The there is a lot of FUD in "Got off the phone with the Guy from the S.E.C"  thread: https://bitcointalk.org/index.php?topic=112438.220
DO NOT READ IT.  It is full of misinformation.  

I hope I have not contributed to this misinformation.

I like to comment and speculate on things that are happening because it is entertaining. I have two motivations for sharing my opinion.

1) I do not like to see people be burdened by a investigation/trial and hope people will make wise decisions to do the right thing. It is an excruciating process.

2) Even worse is the effect of a fraudulent schemes on victims; I have seen the absolute worst here. I hope it never happens to you.
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October 27, 2012, 04:29:41 AM
 #10

I think you got the thread link wrong. Shouldn't it be https://bitcointalk.org/index.php?topic=112438.0 ?

The way it is now, it lands on page 9.
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October 27, 2012, 10:08:30 AM
 #11

Really glad to see people doing something about this crook. I hope he ends up in federal prison.
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October 27, 2012, 10:47:39 AM
 #12

Thank you a lot for your efforts, BCB et al!

I very much like to help out to put justice to Trendon!

I know there seems to be no attorneys with definite answers in here, still I have a few concerns and questions, curious what you guys think on that:

- Is info from non-US based members/participants/victims helpful?

- Is info which does only involve PPT operations helpful? (Imagine someone bought/swapped a bitcoinmax account, after default, for example)

- Anonymity: Well.. Some people will prefer to not have their name tied to involvements with Bitcoin. What do you people think is the probability that the SEC will publish, forward, leak that info to, lets say, the IRS (thats the guys with the taxes, right?)

*following this closely*

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October 27, 2012, 11:22:55 AM
 #13

I'm out of the USA but I'm willing to talk.

Sing like a bird.  Smiley
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October 27, 2012, 11:36:11 AM
 #14

Any info regarding your investment in any business related to Trendon Shavers and bitcoin securities would be helpful.

What country are you from?  The SEC may be bound by certain statutes when dealing from non US witnesses. While this is a civil, securities related investigation, the SEC could refer cases to other authorities.   I'm am not a lawyer but unless you cashed out of your investment before the default at a profit you may be subject to taxes and/or a clawback.  However most guys lost money. So wouldn't that be a write off as a loss on you taxes?  Consult you local taxe attorney.

Finally. Please email Mr. Moustakis. While he can not predict the outcome of his investigation and any civil action that may result, he can advise you of your rights under US law.
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October 27, 2012, 11:54:32 AM
 #15

I'm out of the USA but I'm willing to talk.

Sing like a bird.  Smiley

Nah, I guarantee not a living soul will want to listen to me singing.
And if they do they'll be sorry.  Cheesy

BCB, Portugal.

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October 27, 2012, 01:33:33 PM
 #16

This is rather exiting... As much as I think this entire thing is going to end badly for more than just Trendon....

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October 27, 2012, 03:40:43 PM
 #17


- Anonymity: Well.. Some people will prefer to not have their name tied to involvements with Bitcoin. What do you people think is the probability that the SEC will publish, forward, leak that info to, lets say, the IRS (thats the guys with the taxes, right?)


This statement bothered me somewhat...  Why not be involved with bitcoin?  is bitcoin a bad thing?

The only reason someone would not want to be associated with bitcoin is if they were using it for illegal purposes.

I had a fairly significant amount of bitcoins in btcst.  I do not hide the fact that i use, mine, spend bitcoins.  I claim all mining profits on my taxes.  Anyone who is above board will be OK being associated with btc.

1jimbitm6hAKTjKX4qurCNQubbnk2YsFw
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October 27, 2012, 03:42:39 PM
 #18

Consider that the PPT operators are not protected for they are in fact co-conspirators with Trendon in this matter. Anyone who operated a PPT was as guilty in collecting funds, and MAKING CRIMINAL MISREPRESENTATIONS, as Trendon was. They were the collection points for this scam. I'm certain the net cast in this investigation will include the lackeys in this criminal enterprise, especially any who happen to be US citizens, even if they are currently living outside the US.

And this is not snitching, unless you are a member of the criminal gang behind this.

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October 27, 2012, 03:46:21 PM
 #19

Consider that the PPT operators are not protected for they are in fact co-conspirators with Trendon in this matter. Anyone who operated a PPT was as guilty in collecting funds, and MAKING CRIMINAL MISREPRESENTATIONS, as Trendon was. They were the collection points for this scam. I'm certain the net cast in this investigation will include the lackeys in this criminal enterprise, especially any who happen to be US citizens, even if they are currently living outside the US.

And this is not snitching, unless you are a member of the criminal gang behind this.

I do not think all PPTs will have a problem.  Most of them did not collect any new funds.

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October 27, 2012, 03:49:35 PM
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- Anonymity: Well.. Some people will prefer to not have their name tied to involvements with Bitcoin. What do you people think is the probability that the SEC will publish, forward, leak that info to, lets say, the IRS (thats the guys with the taxes, right?)


This statement bothered me somewhat...  Why not be involved with bitcoin?  is bitcoin a bad thing?

The only reason someone would not want to be associated with bitcoin is if they were using it for illegal purposes.

I had a fairly significant amount of bitcoins in btcst.  I do not hide the fact that i use, mine, spend bitcoins.  I claim all mining profits on my taxes.  Anyone who is above board will be OK being associated with btc.

jjiimm

Thanks for this.  This is very true. I too use, buy and sell with bitcoin.  I keep record of fiat that come out of my bank and is converted to BTC and declare any profit or loss on this activity.   Only bitcoiners who CONSPIRED with BCTST to defraud investors are liable.  However not declaring a profit or loss from any business could be a tax liability.  But if you were a NET loser in BCTST is a write off and you have nothing to worry about.
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