labcoin lawsuit

[merv77]

Hello everyone,

The news we all have been waiting for has arrived...

Alberto Armandi will be prosecuted in Italy this September for the Labcoin case following the complain.

More details on how to claim your BTC from the case will become available later, after I discussed it more with the lawyer.

Is this true?

Woooow!

Is there any news about this? How did they find him, what caused the arrest? I'm so curious!

edit: found it!

http://www.sardiniapost.it/cronaca/villamassargia-droga-e-munizioni-durante-un-controllo-due-arresti/

Appearingly Alberto Armandi and Alessio Arceri were busted because of drugs.

So Alessio was also indeed involved in Labcoin after all, like we believed back in the days?

What's the article above got to do with Labcoin?
it doesn't mention anything about Labcoin.

[1714788741]

1714788741

[1714788741]

1714788741

[dexX7]

What's the article above got to do with Labcoin?
it doesn't mention anything about Labcoin.

Correct, this is unrelated to Labcoin, but it's about Alberto Armandi and Alessio Arceri. I assumed this is how they were found (further assuming they were hiding before).

[merv77]

we'll have to wait for what virtualspade is going to find out from the lawyers.

is in custody at the moment waiting to front court in September?
if not, will he present himself at court come September?
Does he still have the bitcoin to pay us back?
if not, what will happen to him and our bitcoin?

[virtualspade]

Thank you everyone for your kind words, but the fact is that I could not have done this without all you guys.

So a big thanks out to all you guys who helped with the case, and to everyone who joined the complaint and

everyone who donated.

Big thanks also to the lawyers, who made the complaint, that is now going to court.

This is awesome!

Would you mind providing a copy of the document?

Do you know, if Alessio was indeed involved?

Yes this is awesome

I will not provide a copy of the document publicly, as it contains personal information,

and the lawyer suggested that I don't share the document.

But for you dexX7, I could share it with you, for verification purposes and also to satisfy

your curiosity in the case. But I'll need to check that with the lawyer first.

To my knowledge Alessio has nothing to do with our complaint, as he was not in it as a suspect.


As for Albertos whereabouts, I can only speculate. But after reading the news about his drug bust,

and reading some about Italian drug laws, he could be in prison now.


quote from http://www.emcdda.europa.eu/countries/drug-reports/2017/italy/drug-laws-and-offences_en

"offences related to the supply of less dangerous drugs (cannabis, etc.) attract a penalty of 2-6 years’ imprisonment."

He was busted with 300 grams of marijuana with intent to sell, so not so good for him.

If I remember he had some prior cannabis thing also.


I couldn't find any information about if they got any bitcoins in his bust, so who knows if there is any BTC to get back.


I'll also like to say, that I have a 30 PM/Day limit on my account, so I can not answer all you questions by PM right away.

[Kushedout]

This is great news.

Many thanks virtualspade.

"offences related to the supply of less dangerous drugs (cannabis, etc.) attract a penalty of 2-6 years’ imprisonment."

wow, didn't think this day would come. Gona spark a fat one to celebrate. 

[GTR_JOEY]

@virtual spade,

whats the best case scenario for investors who got ripped off if the law suit goes well?

Regards

Joey

[dexX7]

I will not provide a copy of the document publicly, as it contains personal information,

and the lawyer suggested that I don't share the document.

But for you dexX7, I could share it with you, for verification purposes and also to satisfy

your curiosity in the case. But I'll need to check that with the lawyer first.

To my knowledge Alessio has nothing to do with our complaint, as he was not in it as a suspect.

Interesting. Back in the days, if I recall correctly, some of the miners were actually shipped to Alessio and I really thought we got him, too.

I'd be happy to verify the document, while keeping it private.

[bryant.coleman]

It has been so many years... and I had almost forgot the amount I lost in the Labcoin scam. And back then, BTC0.10 was not a very big amount (that was the amount I lost in their scam). But now it is worth close to $900.

[pedrog]

It has been so many years... and I had almost forgot the amount I lost in the Labcoin scam. And back then, BTC0.10 was not a very big amount (that was the amount I lost in their scam). But now it is worth close to $900.

Down BTC1.5, not big money back then...

[ersmny1]

haha everyone who is involved must contribute SOME amount of BTC, else they risk the possibility of what that may mean if any of the funds are recovered 

[E.Sam]

haha everyone who is involved must contribute SOME amount of BTC, else they risk the possibility of what that may mean if any of the funds are recovered 

If I remember correctly, some of us did pitched in for the lawyer's fees. We also sent him our respective amount of shares and invested BTCs.

@virtual spade,

whats the best case scenario for investors who got ripped off if the law suit goes well?

Regards

Joey

My best guess is that if Alberto is found guilty and has to repay investors, then it depends if the judge asks for the reimbursement to be in actual BTCs or the then value of BTC.

[bjack0815]

My best guess is that if Alberto is found guilty and has to repay investors, then it depends if the judge asks for the reimbursement to be in actual BTCs or the then value of BTC.

I fear that Alberto has nothing at all to compensate the shareholders.

[virtualspade]

I finally got the summary on how to proceed with the case from the lawyer.

Here it is:


The trial will start in Cagliari (Sardinia) on 12 September and almost certainly will be able to split into some hearings depending on the choices of Armandi’s defense.

Any postponement of the hearing could last a few months.

In the event of procedural problems (such as errors in notifying the defendant), the timing could be further extended.

What could happen:

1) "Plea bargain": The defendant agrees a sentence with the Prosecutor and the Judge accepts the agreement: in this case there will be no reimbursement of damages, but only legal fees.

2) "Abbreviated": The defendant decides to do the trial without witnesses to save time and have a penalty discount. In this case the injured parties have less of a chance to prove the damages suffered, but in the event of conviction they can get compensation.

3) "Debate": The defendant chooses to run the full trial. In this case all the injured parties who want to get compensation must come to Italy to testify and explain to the judge what damage they have suffered. The process in this case will last longer and, in the event of a conviction, the civil parties will be able to obtain compensation.

What does it mean to get compensation (number 2 and 3)?

If Armandi is convicted, the judge can establish that Armandi must immediately pay at least some of the damage in favor of the civil parties (injured parties). The judge could also say that the compensation will have to take place after Armandi's appeal. Legal fees are never refunded before the second degree. It could also happen that the Judge condemns Armandi, but tells the civil parties that the quantification of compensation must be deferred to a civil judge. In any case, even if Armandi is sentenced to pay, it is not said that he will pay on his own initiative. The sentence can be executed only if he has a salary, or owns a saving or checking account, real estate, other assets or the shares of a company.

How can Armandi be condemned for damages?

You must be a civil party by the beginning of September.

Only people who have been damaged in the Labcoin project in 2013 can ask the Judge to take up the role of civil parties (injured parties) into the trial.

Anyone wishing to establish himself as civil party must sign a special power of attorney in Italian before the lawyer in Italy, or before a notary (or a diplomatic agent at a Consulate or an Italian Embassy abroad).

The text of the power of attorney will be sent to the interested party directly by the lawyer via e-mail. The notary's authenticity must be in Italian, or translated by the notary himself or by an official translator in Italian. The original document must be sent in original by post to the law firm by mid July.

The costs of authentication, translation and mailing of the deed must be beared by the party willing to establish himself as damaged party in the trial.

What are the legal fees for the establishment of a civil party and participation in the trial?

 A)     Just virtualspade

Indicatively the total cost for the participation of a lawyer ("honorary") representing virtualspade is 4,000 euros for the entire duration of the first degree of judgment (hypothesis No. 3).

To this sum must be added the costs of air transfer to Cagliari to be quantified in about 500 euros if the trip can take place in the day, or in 800-1000 euros if the trip involves the need to stay in the hotel.

B)      virtualspade + 1

In the event that other people establish themselves as civil parties in addition to virtualspade, it will be appropriate to involve a second defender representing the other damaged shareholders. It can be assumed that the total costs of two lawyers are 8,000 euros (if the people who make up are two).

C)      virtualspade + many others

To the sum defined at point B) must be added 700 euros for each additional civil party that want to be added to the trial.

In this way, if you wanted to constitute 50 people, the total cost would be 41,600 euros (equal to 8000 euros + 700 euros x 48 people) which, divided equally, would involve an expenditure of only 832 euros per person (which would reach around 1000 euros including travel expenses).

In the hypothesis 2) the fees will be reduced by 10%, without prejudice to the out-of-pocket expenses.

In the hypothesis 1) the fees will be reduced by 20%, without prejudice to the out-of-pocket expenses.

The above-mentioned fees are understood to include a special tax for lawyers (CPA 4%), but VAT (in Italy equal to 22%) is excluded.

Each client will pay half of the fees due by bank transfer at the time of sending the special power of attorney.

The remaining half of the balance must be paid by the end of 2018, always by bank transfer.
Let me know if you need any more information.

Best regards

Riccardo Marini


I'm very busy this weekend, so I'll just post this without comments.

If you are interested in joining the case, and willing to do what is needed, and have the money, pm me or send
email to labcoin(dot)scam(at)gmail(dot)com.

I'm going to be away until next week, so if you have any questions you'll have to wait until then.

[burnside]

Is there an Italian equivalent of a private investigator?  Someone that can figure out what assets Armandi has available?

Do the police have the ability to seize his computers and banking documents and look for traces of bitcoin?  (Would they know what to look for?)

Pretty sure the courts will value the losses as of 2013, not as of 2018.  (as they should - BTC could have gone to zero instead.)

Thank you for putting in all this work!

[Equilux]

I finally got the summary on how to proceed with the case from the lawyer.

Here it is:


The trial will start in Cagliari (Sardinia) on 12 September and almost certainly will be able to split into some hearings depending on the choices of Armandi’s defense.

Any postponement of the hearing could last a few months.

In the event of procedural problems (such as errors in notifying the defendant), the timing could be further extended.

What could happen:

1) "Plea bargain": The defendant agrees a sentence with the Prosecutor and the Judge accepts the agreement: in this case there will be no reimbursement of damages, but only legal fees.

2) "Abbreviated": The defendant decides to do the trial without witnesses to save time and have a penalty discount. In this case the injured parties have less of a chance to prove the damages suffered, but in the event of conviction they can get compensation.

3) "Debate": The defendant chooses to run the full trial. In this case all the injured parties who want to get compensation must come to Italy to testify and explain to the judge what damage they have suffered. The process in this case will last longer and, in the event of a conviction, the civil parties will be able to obtain compensation.

What does it mean to get compensation (number 2 and 3)?

If Armandi is convicted, the judge can establish that Armandi must immediately pay at least some of the damage in favor of the civil parties (injured parties). The judge could also say that the compensation will have to take place after Armandi's appeal. Legal fees are never refunded before the second degree. It could also happen that the Judge condemns Armandi, but tells the civil parties that the quantification of compensation must be deferred to a civil judge. In any case, even if Armandi is sentenced to pay, it is not said that he will pay on his own initiative. The sentence can be executed only if he has a salary, or owns a saving or checking account, real estate, other assets or the shares of a company.

How can Armandi be condemned for damages?

You must be a civil party by the beginning of September.

Only people who have been damaged in the Labcoin project in 2013 can ask the Judge to take up the role of civil parties (injured parties) into the trial.

Anyone wishing to establish himself as civil party must sign a special power of attorney in Italian before the lawyer in Italy, or before a notary (or a diplomatic agent at a Consulate or an Italian Embassy abroad).

The text of the power of attorney will be sent to the interested party directly by the lawyer via e-mail. The notary's authenticity must be in Italian, or translated by the notary himself or by an official translator in Italian. The original document must be sent in original by post to the law firm by mid July.

The costs of authentication, translation and mailing of the deed must be beared by the party willing to establish himself as damaged party in the trial.

What are the legal fees for the establishment of a civil party and participation in the trial?

 A)     Just virtualspade

Indicatively the total cost for the participation of a lawyer ("honorary") representing virtualspade is 4,000 euros for the entire duration of the first degree of judgment (hypothesis No. 3).

To this sum must be added the costs of air transfer to Cagliari to be quantified in about 500 euros if the trip can take place in the day, or in 800-1000 euros if the trip involves the need to stay in the hotel.

B)      virtualspade + 1

In the event that other people establish themselves as civil parties in addition to virtualspade, it will be appropriate to involve a second defender representing the other damaged shareholders. It can be assumed that the total costs of two lawyers are 8,000 euros (if the people who make up are two).

C)      virtualspade + many others

To the sum defined at point B) must be added 700 euros for each additional civil party that want to be added to the trial.

In this way, if you wanted to constitute 50 people, the total cost would be 41,600 euros (equal to 8000 euros + 700 euros x 48 people) which, divided equally, would involve an expenditure of only 832 euros per person (which would reach around 1000 euros including travel expenses).

In the hypothesis 2) the fees will be reduced by 10%, without prejudice to the out-of-pocket expenses.

In the hypothesis 1) the fees will be reduced by 20%, without prejudice to the out-of-pocket expenses.

The above-mentioned fees are understood to include a special tax for lawyers (CPA 4%), but VAT (in Italy equal to 22%) is excluded.

Each client will pay half of the fees due by bank transfer at the time of sending the special power of attorney.

The remaining half of the balance must be paid by the end of 2018, always by bank transfer.
Let me know if you need any more information.

Best regards

Riccardo Marini


I'm very busy this weekend, so I'll just post this without comments.

If you are interested in joining the case, and willing to do what is needed, and have the money, pm me or send
email to labcoin(dot)scam(at)gmail(dot)com.

I'm going to be away until next week, so if you have any questions you'll have to wait until then.

Wow thanks for your perseverance! Sad to see that there are so few replies here, hopefully some people got in touch with you to see this through.
I wont be able to help but I am interested to see how this turns out since I was affected by one of Armandi's other scams.

[runderwo]

Hi, my watch on this topic had become disabled.  Is it too late to join?

[PirateHatForTea]

Did anything ever come of this?

[ferskvare]

Would be nice to get an update on this. I don't have much, but I see that it said funds needed to be provided by end of 2018. So, if need be, I might be able to chip in a little bit at least, provided an update of the case.

[ewibit]

Would be nice to get an update on this. I don't have much, but I see that it said funds needed to be provided by end of 2018. So, if need be, I might be able to chip in a little bit at least, provided an update of the case.

how much funds?
thx

[WhateverIFeelLike]

I wont be able to help but I am interested to see how this turns out since I was affected by one of Armandi's other scams.

Same here, except it's Labcoin. What's the situation now? I haven't been getting notifications.