labcoin lawsuit

[gogxmagog]

any new news to report?

[crazyearner]

Lawsuit or not I dont see much gonna happen unless justice is serviced and theirs enough proof to backup the case brought against labcoin even then its gonig to be hard unless got some serious law power to bring justice and this is only going to take time. Look at MTGOX filed for bankcruptsy and still they have the coins that where claimed to be stolen and they have the coins.

[canth]

Lawsuit or not I dont see much gonna happen unless justice is serviced and theirs enough proof to backup the case brought against labcoin even then its gonig to be hard unless got some serious law power to bring justice and this is only going to take time. Look at MTGOX filed for bankcruptsy and still they have the coins that where claimed to be stolen and they have the coins.

Kraken has the remaining Gox coins and it's likely that they'll be distributed by the fall of this year - we could be so lucky if the same were happening with LC. Updates would be appreciated...

[JWU90]

is this case dead? or is VS still pushing? approaching one year since last update..

[virtualspade]

I'm still here, I don't have any news about the case, but here is what we know now.

- The complaint was recived by the Pubblico Ministero (the Public Prosecutor) on 17.02.2014

- Alberto Armandi is under Preliminary investigation according to the Italian Code of Criminal Procedure

  for the offenses referred to in penal codes 640 c.p. and 494 c.p.
 
  Article 640 Penal Code: Fraud
 
  Article 494 Penal Code: Impersonation
 
- We will be informed when the Preliminary investigation is over, and the results of that, e.g dismissal or move to a trial

About the Preliminary investigation

Quote from http://italy.usembassy.gov/acs/emergency/emergency-arrest.html

The public prosecutor’s office has a maximum of six months to a year (depending on the nature of the crime)
to carry out an investigation of a suspect.  If an investigation develops into a very complex case
(e.g. if the investigation has to be carried out abroad or if the case cannot be concluded in the time allowed),
the term for completing the investigation may be extended to between 18 months and 2 years. 
Requests to extend the term for completing the investigation must be approved by the judge. 
Timing in the Italian legal system is very different from the American system. 
Postponements and delays in the investigations are quite common,
making it often impossible to predict when such investigations will be completed.


Not sure if that helps, but thats what I got at the moment, so I guess we will just have to wait for now.

[gogxmagog]

makes sense from what i know of the Italian legal system. Italian torpedoes, very slow. the good things I'm hearing about Italian law is; they take fraud VERY seriously and pursue charges to the end. also, there have been many cases in recent years targeting digital crimes. Hopefully they are aiming all their guns at this labcoin fiasco.
& kudos to VS for his work here, I donated a small bit of btc last year for his efforts. well deserved!

[gogxmagog]

what do you guys think of this?

http://www.reddit.com/r/Bitcoin/comments/30b5j4/this_is_huge_private_digital_property_of_italians/

sad state of affairs, but might actually help us against labcoin, no?

[gogxmagog]

Just checking in and bumping this thread....
Has there been any progress with this lawsuit? any tidbits of info to share?

[crazyearner]

Just checking in and bumping this thread....
Has there been any progress with this lawsuit? any tidbits of info to share?

Would also like to know the current progress here had this on me watch list but do not see much movement in what is going on here. Think only time will tell but no doubt go down the road like every other lawsuit goes dosent happen or costs too much to actually pull of and get things underway with an investigation..

[SebastianJu]

There is movement, though a bit slow. Anyway... things dont look bad at the moment. I guess more info can be given later only. So im sorry that i cant talk about whats going on now.

I guess virtualspade will write then most probably.

[bjack0815]

.........aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaand................... .....................
.........it's gone?

[iCEBREAKER]

report to the police, this is an international network of fraud case.

Thank goodness!

The BITCOIN POLICE are on the case!

Well that turned out exactly as expected.   

[canth]

report to the police, this is an international network of fraud case.

Thank goodness!

The BITCOIN POLICE are on the case!

Well that turned out exactly as expected.   

Only slightly different than AM, Hashfast, GAW, Asicminer, etc

[iCEBREAKER]

report to the police, this is an international network of fraud case.

Thank goodness!

The BITCOIN POLICE are on the case!

Well that turned out exactly as expected.   

Only slightly different than AM, Hashfast, GAW, Asicminer, etc

No, huge difference.  AM and HF actually made chips, and (I think) GAW actually sold miners.

A scam is not the same thing as an unsuccessful venture.  EG, Atari went bankrupt but it was not a scam.  Ditto for 3dfx.

IDK why this concept is so extraordinarily difficult for so many people here to understand.  I believe ego may be a factor...

[canth]

report to the police, this is an international network of fraud case.

Thank goodness!

The BITCOIN POLICE are on the case!

Well that turned out exactly as expected.   

Only slightly different than AM, Hashfast, GAW, Asicminer, etc

No, huge difference.  AM and HF actually made chips, and (I think) GAW actually sold miners.

A scam is not the same thing as an unsuccessful venture.  EG, Atari went bankrupt but it was not a scam.  Ditto for 3dfx.

IDK why this concept is so extraordinarily difficult for so many people here to understand.  I believe ego may be a factor...

Well, AM might have started off honest but at some point dishonesty crept in and the funds ended up being gone. Breach of trust and theft of funds is pretty much the same regardless of how honest the business starts off. Same with GAW - they started off selling mining contracts but somewhere along the way decided to screw their customers.

The difference here is that LC started off dishonest right from the start. Straight up scam vs legit business followed by scam. I don't see how ego factors in there...

[iCEBREAKER]

The difference here is that LC started off dishonest right from the start. Straight up scam vs legit business followed by scam. I don't see how ego factors in there...

Huge, critical difference (not "slight") between intending to scam vs intending to start a legit business.

The ego comes into play when peoples' failed scam accusations against legit companies must increasingly rely on definitions of scam so broad as to be without meaning.

We don't know WTF happened to AM/FC.  It's China, so anything (Mongolians!) is possible (aliens?).

[canth]

The difference here is that LC started off dishonest right from the start. Straight up scam vs legit business followed by scam. I don't see how ego factors in there...

Huge, critical difference (not "slight") between intending to scam vs intending to start a legit business.

The ego comes into play when peoples' failed scam accusations against legit companies must increasingly rely on definitions of scam so broad as to be without meaning.

We don't know WTF happened to AM/FC.  It's China, so anything (Mongolians!) is possible (aliens?).

For all we know the LC guys started off with legit intentions and then realized there was no way they could deliver a few weeks into the process. It's not important to me how long someone has good intentions right before they turned the corner and decided to run off with the money.

I don't think anyone has much good will toward Karpeles or Danny Brewster (Neo&Bee) for their original intentions, under the assumption that they started off legit.

[iCEBREAKER]

The difference here is that LC started off dishonest right from the start. Straight up scam vs legit business followed by scam. I don't see how ego factors in there...

Huge, critical difference (not "slight") between intending to scam vs intending to start a legit business.

The ego comes into play when peoples' failed scam accusations against legit companies must increasingly rely on definitions of scam so broad as to be without meaning.

We don't know WTF happened to AM/FC.  It's China, so anything (Mongolians!) is possible (aliens?).

For all we know the LC guys started off with legit intentions and then realized there was no way they could deliver a few weeks into the process. It's not important to me how long someone has good intentions right before they turned the corner and decided to run off with the money.

I don't think anyone has much good will toward Karpeles or Danny Brewster (Neo&Bee) for their original intentions, under the assumption that they started off legit.

OIC, you were one of those "LABCOIN? seems legit" people.   

[canth]

The difference here is that LC started off dishonest right from the start. Straight up scam vs legit business followed by scam. I don't see how ego factors in there...

Huge, critical difference (not "slight") between intending to scam vs intending to start a legit business.

The ego comes into play when peoples' failed scam accusations against legit companies must increasingly rely on definitions of scam so broad as to be without meaning.

We don't know WTF happened to AM/FC.  It's China, so anything (Mongolians!) is possible (aliens?).

For all we know the LC guys started off with legit intentions and then realized there was no way they could deliver a few weeks into the process. It's not important to me how long someone has good intentions right before they turned the corner and decided to run off with the money.

I don't think anyone has much good will toward Karpeles or Danny Brewster (Neo&Bee) for their original intentions, under the assumption that they started off legit.

OIC, you were one of those "LABCOIN? seems legit" people.   

I'll refrain from mentioning what a fair bit of the forum labels you, sir.

[iCEBREAKER]

The difference here is that LC started off dishonest right from the start. Straight up scam vs legit business followed by scam. I don't see how ego factors in there...

Huge, critical difference (not "slight") between intending to scam vs intending to start a legit business.

The ego comes into play when peoples' failed scam accusations against legit companies must increasingly rely on definitions of scam so broad as to be without meaning.

We don't know WTF happened to AM/FC.  It's China, so anything (Mongolians!) is possible (aliens?).

For all we know the LC guys started off with legit intentions and then realized there was no way they could deliver a few weeks into the process. It's not important to me how long someone has good intentions right before they turned the corner and decided to run off with the money.

I don't think anyone has much good will toward Karpeles or Danny Brewster (Neo&Bee) for their original intentions, under the assumption that they started off legit.

OIC, you were one of those "LABCOIN? seems legit" people.   

I'll refrain from mentioning what a fair bit of the forum labels you, sir.

A fair bit of the forum can't tell the critical difference (not "slight") between intending to scam vs intending to start a legit business.

The 'Did they make a chip?' test is a pretty good way to tell if a chip company is legit.