[2017-07-31]Vanished Cryptsy CEO 'Big Vern' Ordered to pay $8M in class action

[TravelMug]

This week Judge Kenneth Marra came to a conclusion in the District of Florida class action lawsuit against Paul Vernon and his company Project Investors (Cryptsy). According to the final default judgment, Vernon is liable for the “principal sum of $8.2 million.”

Paul Vernon Liable for $8.2M in Class Action Lawsuit

The curious case of the now defunct Cryptsy exchange has been a drawn out mystery for a very long time and is still not over. Back in January of 2016 the cryptocurrency trading platform Cryptsy said it was hacked for 13,000 BTC, and 300,000 LTC. Since then the founder of the exchange Paul Vernon, otherwise known as ‘Big Vern’, left his residency in Florida and allegedly is hiding out somewhere around Liaoning, China.

https://news.bitcoin.com/vanished-cryptsy-ceo-big-vern-ordered-to-pay-8m-in-class-action-lawsuit/

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[iamTom123]

Judgement has finally been reached for this man and I am sure that victims of his exchange are now happy though it remains to be seen how the arm of the law can be able to extradite him from China and the next question is if he has still the necessary assets which this judgement can be ordered to be executed.

This should be serving as a very strong warning to anyone doing business online or offline that they have responsibility towards their customers because most of the time transactions here are involving money -- sometimes big amount of money and the element of trust should not be taken lightly.

People who have scamming mindset has no place to do business here as we should be looking to have connections only with legitimate operations and with people who are still decent and clean conscience.