CoinLenders Lawsuit

[hwmax]

86.93779676 BTC, not settled or received a refund. I will register a preliminary interest in taking part in legal action depending on the terms etc... assuming TradeFortress does not issue a refund in the meantime.

[halfawake]

86.93779676 BTC, not settled or received a refund. I will register a preliminary interest in taking part in legal action depending on the terms etc... assuming TradeFortress does not issue a refund in the meantime.

If anyone's thinking this lawsuit is a waste of time, that TF doesn't have any bitcoins any more, I highly encourage you to check out the latest bit of the CoinLenders Script thread: https://bitcointalk.org/index.php?topic=283756.msg3715910#msg3715910

[bradyon]

True!

TF has funds, is deliberately avoiding us and is not going to pay us unless justice catches him.

That´s why we have to go ahead with the lawsuit.

[markjamrobin]

So would this be extended to inputs.io as well, or just CL? If only CL, why?

[dwdoc]

So would this be extended to inputs.io as well, or just CL? If only CL, why?

I will explain the situation with Inputs.io and BTCInvest to the attorney and see if it would be advantageous to combine all into one lawsuit. Currently am waiting to see if IMF will fund the lawsuit.

[bradyon]

So would this be extended to inputs.io as well, or just CL? If only CL, why?

I will explain the situation with Inputs.io and BTCInvest to the attorney and see if it would be advantageous to combine all into one lawsuit. Currently am waiting to see if IMF will fund the lawsuit.

Good, Dwdoc. Keep us informed. I personally appreciate your efforts.

[halfawake]

So would this be extended to inputs.io as well, or just CL? If only CL, why?

I will explain the situation with Inputs.io and BTCInvest to the attorney and see if it would be advantageous to combine all into one lawsuit. Currently am waiting to see if IMF will fund the lawsuit.

The only IMF I'm aware is the International Monteary Fund.  Is that the one you're referring to, or something else entirely?  I'd be surprised if they'd fund the lawsuit, but I suppose it's worth a shot. 

Also, I want to echo what bradyon said.  Thanks for all the work you're putting into this.

[dwdoc]

http://www.imf.com.au/home

[superbit]

9BTC at CL, I'm in

[halfawake]

http://www.imf.com.au/home

Oh, IMF is the law firm.  That makes much more sense.

[C10H15N]

http://www.imf.com.au/home

Oh, IMF is the law firm.  That makes much more sense.

IMF is the litigation funder.  In AU, attorneys cannot take cases on contingency.  The litigation funder will pay the attorney fees for the case in exchange for a percentage of the judgement should we prevail.

[TheSurge]

I'm interested. I have 12 BTC in Coinlenders.

[repentance]

IMF is the litigation funder.  In AU, attorneys cannot take cases on contingency.  The litigation funder will pay the attorney fees for the case in exchange for a percentage of the judgement should we prevail.

This bears repeating.  You need to find both a law firm willing to take the case and a litigation funder if you want to avoid upfront fees.  Litigation funders are understandably choosy about what cases they fund and they're not going to fund an action against someone who has no capacity to pay or who is likely to become insolvent before the litigation process is completed (class actions typically take years), either voluntarily or due to claims by creditors outside the class action (in this particular instance, I'd be concerned about the possibility of fines by ASIC if financial services regulations were breached and any debts which might be due to the ATO).

[repentance]

Any chance some lawyers might be interested simply because it's bitcoin and that would give them high profile exposure on a new type of scam (assuming TF can be found and a case can be built)?

Class actions are a specialised area and in the end it's the litigation funders you need to convince.

IMF only funds commercial cases where the claim exceeds $5 million (I'm actually part of their class action against Australian banks).

While it's possible that there are lawyers who'd like to become the go-to people for Bitcoin related stuff, I'm not sure this is a particularly attractive case for them.  Class actions are expensive and time consuming and if you want to "make a name" for yourself you need to be able to win large awards which can actually be enforced.  A "victory" in this case could well be pyrrhic because it's not clear that TF would have any capacity to pay by the time the case was settled (especially if evidence of criminal wrong-doing emerges).

If you were a lawyer looking to make your name in the Bitcoin world, it would probably be in the area of fighting financial services regulations being applied in ways which send "legitimate" Bitcoin enterprises broke rather than trying to sue for the recovery of funds from shady businesses and individuals who have lost or stolen user funds.

[2kman]

If there is anything that can be done about a scam it should be done.
Therefor I'm interested. My balance at CL is 42.78068979.

[issaxde]

I'm in. My CL Balance is 13.79260958 BTC

[Bitcoin Scammer]

They are gone and have no responded to anyone thus far.

[gaston909]

Now the evidence combined with tf silence is pointing to an outright scam of funds criminal proceedings are far more realistic, regardless of the nature.

Anyone from Australia invested here?

Looking at the interest on here and the interest I have recieved via PM and the price of a single bitcoin...

We have exceeded the target.

I am still waiting to hear back from some of the significant depositors as well. sent you an update doc.

[dragin33]

Interested.

[COINPRADER]

Interested  CL 3.0032 coins