BitConnect Lawsuit has Begun!

[enervey]

I wonder how these guys feel right now: https://bitcointalk.org/index.php?topic=2697059.0

1.Daily Profits
2.Compounding %
3.Earn Bitcoin
4.Definitely not a Scam
5.New BITCONNECT ICO launching 1/10/18

Everyone loves to hate BITCONNECT, but the fact is that nobody has lost any money with them. They do offer a big referral reward, but so have tons of other companies to get started. I've started out very small with no referrals and earned over $200 in % in 1.5 months. Yes, there's always a chance that it could disappear, but that is true of many investments that people make. SCARED $$$ don't make NO MONEY

[Ilegendph]

good news! too many people hurt cause of their ponzi scheme.
I hope they will rest in jail for a long time.

I hope BitConnect scam should be a lesson to all of us. Always analyze things before investing and not just simply buy it because it is in demand. It is very easy to gain publicity specially if you use facebook and googleads as medium. So again, always analyze things, read their whitepaper and check if the project is really feasible.

[European Central Bank]

i can't find any details about this lawsuit. what exactly are they trying to prosecute and why are they going after youtube nobodies rather than the pricks who actually created and ran bitconnect? they're the ones who have vast amounts of other people's money.

it's conceivable a court might believe these guys when they thought it was the real deal, though clearly it wasn't. the same can't be said for the operators of the actual ponzi. who are they and what's being done about them?

[dalesotpi]

Finally, some of the promoters/advertisers of BitConnect(ponzi schem) like Craig Grant and Trevon James have been brought to justice.

https://www.reddit.com/r/CryptoCurrency/comments/81n8r4/bitconnect_lawsuit_has_begun_trevon_jamescraig/


Wouldn't surprise me if that clown Carlos Matos is next on the list .

My greatest respect to those who have the energy to bring those connected with bitconnect to cuort for a proper trial.
This will encourage those others that have been scammed to stand up and follow suit. And eventually decrease, if not eradicate, projects that are built to swindle and scam many investors.
Congratulations to you all

[kahc]

i can't find any details about this lawsuit. what exactly are they trying to prosecute and why are they going after youtube nobodies rather than the pricks who actually created and ran bitconnect? they're the ones who have vast amounts of other people's money.

it's conceivable a court might believe these guys when they thought it was the real deal, though clearly it wasn't. the same can't be said for the operators of the actual ponzi. who are they and what's being done about them?

Here is the Class Action Lawsuit .
Mirror link


These individuals/corporations are getting sued:

Code:

BITCONNECT INTERNATIONAL PLC, a foreign corporation;
BITCONNECT LTD., a foreign corporation;
BITCONNECT TRADING LTD., a foreign corporation;
GLENN ARCARO, an individual;
TREVON BROWN a/k/a TREVON JAMES, an individual;
RYAN HILDRETH, an individual;
CRAIG GRANT, an individual;
JOHN DOE NO. 1 a/k/a CRYPTONICK, an individual;
and JOHN DOE NOS. 2-10, individuals;
Defendants.

They are going after the BitConnect and their top promoters.
The case is still under investigation, so I guess we will hear more about it in the news and more people will join the class action.

[adelaisav]

Finally, some of the promoters/advertisers of BitConnect(ponzi schem) like Craig Grant and Trevon James have been brought to justice.

https://www.reddit.com/r/CryptoCurrency/comments/81n8r4/bitconnect_lawsuit_has_begun_trevon_jamescraig/
Wouldn't surprise me if that clown Carlos Matos is next on the list .



Here is the Class Action Lawsuit .
Mirror link

These individuals/corporations are getting sued:

Code:

BITCONNECT INTERNATIONAL PLC, a foreign corporation;
BITCONNECT LTD., a foreign corporation;
BITCONNECT TRADING LTD., a foreign corporation;
GLENN ARCARO, an individual;
TREVON BROWN a/k/a TREVON JAMES, an individual;
RYAN HILDRETH, an individual;
CRAIG GRANT, an individual;
JOHN DOE NO. 1 a/k/a CRYPTONICK, an individual;
and JOHN DOE NOS. 2-10, individuals;
Defendants.

This is magnificent. It will influence shillers to reconsider before drawing some rubbish looking for associate expenses. Ryan Hilbreth and CryptoNick will be required to get a lawyer (Spend cash) react to the dissension, and so forth. A straightforward youtube "Sorry" wouldn't cut it. They are fucked. Any pick up that they made is at last going to get eaten up by lawful expenses and their psychological state for the following year will be damnation.

[caisa88]

That's great! I really hope that those who lost money will be able to recover some of their losses and learned the lesson that when something seems too good to be true, then it really is !

[JuniAiko]

The masterminds need to be caught.
Hopefully one of the promoters actually knows their identities.

[European Central Bank]

Here is the Class Action Lawsuit .
Mirror link


These individuals/corporations are getting sued:

Code:

BITCONNECT INTERNATIONAL PLC, a foreign corporation;
BITCONNECT LTD., a foreign corporation;
BITCONNECT TRADING LTD., a foreign corporation;
GLENN ARCARO, an individual;
TREVON BROWN a/k/a TREVON JAMES, an individual;
RYAN HILDRETH, an individual;
CRAIG GRANT, an individual;
JOHN DOE NO. 1 a/k/a CRYPTONICK, an individual;
and JOHN DOE NOS. 2-10, individuals;
Defendants.

They are going after the BitConnect and their top promoters.
The case is still under investigation, so I guess we will hear more about it in the news and more people will join the class action.

cool. thanks for the info.

what is the track record with prosecutions for stuff like this in the past? how was malicious intent proven? ponzis seem to be relatively rare outside the third world, but crypto certainly has helped them make a comeback.

[kahc]

Here is the Class Action Lawsuit .
Mirror link


These individuals/corporations are getting sued:

Code:

BITCONNECT INTERNATIONAL PLC, a foreign corporation;
BITCONNECT LTD., a foreign corporation;
BITCONNECT TRADING LTD., a foreign corporation;
GLENN ARCARO, an individual;
TREVON BROWN a/k/a TREVON JAMES, an individual;
RYAN HILDRETH, an individual;
CRAIG GRANT, an individual;
JOHN DOE NO. 1 a/k/a CRYPTONICK, an individual;
and JOHN DOE NOS. 2-10, individuals;
Defendants.

They are going after the BitConnect and their top promoters.
The case is still under investigation, so I guess we will hear more about it in the news and more people will join the class action.

cool. thanks for the info.

what is the track record with prosecutions for stuff like this in the past? how was malicious intent proven? ponzis seem to be relatively rare outside the third world, but crypto certainly has helped them make a comeback.

That is a good question, honestly I have no idea.
However that lawfirm Silver Miller seems to have settled a few cases in the practice area of Cryptocurrency in the past.
They are currently also involved in COINBASE CLASS ACTION, KRAKEN CLASS ACTION and  Tezos’s ICO fraud.

Not sure if those merits are considered a good proven track record or not...

[mariomerula]

This news Made me very happy.. I hope they Will be judged culprit And go to jail... I really hate scammers!

[Holla123]

Finally, some of the promoters/advertisers of BitConnect(ponzi schem) like Craig Grant and Trevon James have been brought to justice.

https://www.reddit.com/r/CryptoCurrency/comments/81n8r4/bitconnect_lawsuit_has_begun_trevon_jamescraig/
Wouldn't surprise me if that clown Carlos Matos is next on the list .



Here is the Class Action Lawsuit .
Mirror link

These individuals/corporations are getting sued:

Code:

BITCONNECT INTERNATIONAL PLC, a foreign corporation;
BITCONNECT LTD., a foreign corporation;
BITCONNECT TRADING LTD., a foreign corporation;
GLENN ARCARO, an individual;
TREVON BROWN a/k/a TREVON JAMES, an individual;
RYAN HILDRETH, an individual;
CRAIG GRANT, an individual;
JOHN DOE NO. 1 a/k/a CRYPTONICK, an individual;
and JOHN DOE NOS. 2-10, individuals;
Defendants.

what could be the point of a lawsuit here? People were investing fully aware that this was most likely a scam in the hope of making a timely exit. It was said that the whole interest was financed by a superior trading bot. That story in itself is weak if you look at the interest rates earned at bitconnect. Then the company registration does not even show a valid address and they did not have a phone number  . There is a great video on youtube where someone is trying to do a background check on them.

If they are at it they could also ask Suppoman about shilling B3 where a lot of noobs lost their money. Hopefully they did not lose their interest in blockchain as it is the right space to watch.

[krisnajsadrak]

this will make a huge effects to another crypto with ponzi scheme as the main product
i hope there will be no ponzi scheme with crypto as the product anymore  

[Hssn]

good news! too many people hurt cause of their ponzi scheme.
I hope they will rest in jail for a long time.

UMM UMM NO NO NO

[Joe-Niner]

Good, we need to let everyone know that scamming won't be tolerated.  Hopefully this spurs on more solid legit projects, crypto as a whole can only benefit from that.

[bulbolitobayagyag]

Good news the justice will be given to those who got rekted and scammed by these people,we shouldnt be joining  any lending platform because its too risky and we could lose anything that we have.We should take seriously every investment that we are doing do alot of research first so we wont be joining any of these ponzi schemes.

[w5pn73]

This is great news but also a bit off to me.
The people who need to be brought to justice are the people who developed this rip off scheme and ran off with the money, the people shilling it may have really believed in this coin and just been a bit ignorant, is it fair to charge these people for one of the biggest scams we've seen in crypto? they will do serious time for the amount of money lost if found guilty.

I really don't like the idea of bringing the wrong people to justice just to prove a point..

Am I wrong here? is there evidence that the 2 involved here were part of the project or were the ones who dumped it? If so then let them suffer for their actions, but if not.. this isn't fair.

I would seriously love to see those responsible do time, just would like to see the right people getting done, can some one give me a bit more info on this? I'll spend some time on google while waiting for a reply.

More people were charged, but I don't remember their names. Most of them Youtubers or promoters of some kind.
I can assure you that most of them, if not all of them knew what was going on behind the scenes.


They made millions through the referrals program.



Ohhhhh boy, they thought they could just walk away with millions of ponzi-style accumulated dollars and get away with it, never have they been so wrong.

Justice for all! I'm interested in the outcomes, I will be following this closely.

[cryptomema]

This is the justice that the people need after deceiving by these founders,although most of the people knew the risky they still have joined this ponzi scheme.Founders who had stolen billions of dollars could be imprisoned lifetime if these people have done enough to destory the investor's life,they shoudl be hang to death in the public places to serve as warnings to all the greedy people.

[chukaday]

What I don't understand is how they are going to get justice in all of this? Yes the youtubers were doing something wrong, but what about the people who started it? I want them to get caught and as of right now it looks like they are going to get away which is terrible . I would love to see the founders brought down, justice needs to be served here!

[cryptospear]

This is very good news especially those people who got scammed by this well crafter ponzi scheme from the past that are seeking justice,the damage has been done but if the lawsuit would be successful they can still get what they have invested to,scammers shouldnt be given any chance in our community decentralization is a good thing but some of these people are abusing the privilege of it.