Bitcoin Forum
September 15, 2019, 07:01:54 PM *
News: If you like a topic and you see an orange "bump" link, click it. More info.
 
   Home   Help Search Login Register More  
Warning: One or more bitcointalk.org users have reported that they strongly believe that the creator of this topic is a scammer. (Login to see the detailed trust ratings.) While the bitcointalk.org administration does not verify such claims, you should proceed with extreme caution.
Pages: « 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 [35]
  Print  
Author Topic: The 94% Con by Jon Montroll  (Read 82075 times)
hardinero007
Sr. Member
****
Offline Offline

Activity: 910
Merit: 262



View Profile WWW
May 03, 2019, 03:50:21 PM
 #681

hi guys, i am a non-US citizen living outside USA.  today, i received a mail from US dept of justice southern district of new york, which is regarding united states v jon montroll.  the mail stated that i was identified by law enforcement as a victim or potential victim during the investigation of the criminal case.

what should i do next after receiving this mail?

i recalled i had funds on bitfunder and weexchange, as well as ukyo.loan shares.  but i can't provide proofs to the amount of bitcoins there.  does the gov't have a copy on who owns how many bitcoins in bitfunder/weexchange/ukyo.loan?

now, i am interested to know if our funds will be returned to us, and are we going to get the same amount of bitcoin, or will they be paid by using the rate of 94 usd/btc?
PLAY NOW
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1568574114
Hero Member
*
Offline Offline

Posts: 1568574114

View Profile Personal Message (Offline)

Ignore
1568574114
Reply with quote  #2

1568574114
Report to moderator
SebastianJu
Legendary
*
Offline Offline

Activity: 2436
Merit: 1042


Legendary Escrow Service - Tip Jar in Profile


View Profile WWW
May 07, 2019, 11:01:00 PM
Merited by vayvanne (1)
 #682

hi guys, i am a non-US citizen living outside USA.  today, i received a mail from US dept of justice southern district of new york, which is regarding united states v jon montroll.  the mail stated that i was identified by law enforcement as a victim or potential victim during the investigation of the criminal case.

what should i do next after receiving this mail?

i recalled i had funds on bitfunder and weexchange, as well as ukyo.loan shares.  but i can't provide proofs to the amount of bitcoins there.  does the gov't have a copy on who owns how many bitcoins in bitfunder/weexchange/ukyo.loan?

now, i am interested to know if our funds will be returned to us, and are we going to get the same amount of bitcoin, or will they be paid by using the rate of 94 usd/btc?

If they identified you then it means they have the serverdata and so they have the actual amount of funds you held there. Most probably all shares are worthless. And regarding the coins, it will be about that old BTC worth in any case, yes. That's most probably what was mentioned when the news wrote about Jon trying to pay his creditors and needs more time to do so, which is why he should not go to jail instantly or so.

Out of curiousity, what's the email address they sent you from?

Please ALWAYS contact me through bitcointalk pm before sending someone coins.
jbreher
Legendary
*
Offline Offline

Activity: 2506
Merit: 1341


lose: unfind ... loose: untight


View Profile
May 08, 2019, 02:41:21 AM
 #683

... the news wrote about Jon trying to pay his creditors and needs more time to do so, which is why he should not go to jail instantly or so.

It is _so_ cute how you still cling to the fantasy that Montroll gives a shit about trying to pay back those whom he has defrauded.

Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.

I've been convicted of heresy. Convicted by a mere known extortionist. Read my Trust for details.
SebastianJu
Legendary
*
Offline Offline

Activity: 2436
Merit: 1042


Legendary Escrow Service - Tip Jar in Profile


View Profile WWW
May 12, 2019, 05:55:16 PM
 #684

... the news wrote about Jon trying to pay his creditors and needs more time to do so, which is why he should not go to jail instantly or so.

It is _so_ cute how you still cling to the fantasy that Montroll gives a shit about trying to pay back those whom he has defrauded.

Not sure what you mean. That's what the news said. If the judge agrees then there probably is something Jon should do before going to jail. Please check:

https://financefeeds.com/ny-court-cancels-planned-sentencing-of-bitfunder-operator/
and
https://financefeeds.com/bitfunder-operator-jon-montroll-sentencing-adjourned/

Please ALWAYS contact me through bitcointalk pm before sending someone coins.
jbreher
Legendary
*
Offline Offline

Activity: 2506
Merit: 1341


lose: unfind ... loose: untight


View Profile
May 12, 2019, 06:29:00 PM
 #685

... the news wrote about Jon trying to pay his creditors and needs more time to do so, which is why he should not go to jail instantly or so.

It is _so_ cute how you still cling to the fantasy that Montroll gives a shit about trying to pay back those whom he has defrauded.

Not sure what you mean. That's what the news said. If the judge agrees then there probably is something Jon should do before going to jail. Please check:

https://financefeeds.com/ny-court-cancels-planned-sentencing-of-bitfunder-operator/
and
https://financefeeds.com/bitfunder-operator-jon-montroll-sentencing-adjourned/

Quote
Montroll did not disclose what happened to users of BitFunder and WeExchange, or investors in Ukyo.Loan. Instead, he continued to promote and sell Ukyo.Loan to customers and, on at least one occasion, falsely represented to customers that BitFunder was commercially successful. As a result of his omissions and misrepresentations, the defendant raised approximately 978 bitcoins through Ukyo.Loan after his discovery of the Hackers’ actions.

Summarizing the quote from your article. 'Montroll lied, defrauded, and stole.'

Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.

I've been convicted of heresy. Convicted by a mere known extortionist. Read my Trust for details.
SebastianJu
Legendary
*
Offline Offline

Activity: 2436
Merit: 1042


Legendary Escrow Service - Tip Jar in Profile


View Profile WWW
May 13, 2019, 09:51:16 PM
 #686

... the news wrote about Jon trying to pay his creditors and needs more time to do so, which is why he should not go to jail instantly or so.

It is _so_ cute how you still cling to the fantasy that Montroll gives a shit about trying to pay back those whom he has defrauded.

Not sure what you mean. That's what the news said. If the judge agrees then there probably is something Jon should do before going to jail. Please check:

https://financefeeds.com/ny-court-cancels-planned-sentencing-of-bitfunder-operator/
and
https://financefeeds.com/bitfunder-operator-jon-montroll-sentencing-adjourned/

Quote
Montroll did not disclose what happened to users of BitFunder and WeExchange, or investors in Ukyo.Loan. Instead, he continued to promote and sell Ukyo.Loan to customers and, on at least one occasion, falsely represented to customers that BitFunder was commercially successful. As a result of his omissions and misrepresentations, the defendant raised approximately 978 bitcoins through Ukyo.Loan after his discovery of the Hackers’ actions.

Summarizing the quote from your article. 'Montroll lied, defrauded, and stole.'

Yes, I didn't say otherwise. If he was able to lie to a judge now, might be, though a judge probably wouldn't decide so on a whim. In any case, if there is a chance to get something back I would check it out. Investment of time is minimal.

Please ALWAYS contact me through bitcointalk pm before sending someone coins.
VayaconDios
Newbie
*
Offline Offline

Activity: 10
Merit: 14


View Profile
May 28, 2019, 04:57:52 AM
Merited by OgNasty (1)
 #687

US Govt, Bitfunder operator Jon Montroll clash over restitution amount

The Government has revised its proposed restitution figure to $183,530 but the defendant disagrees.


https://i.imgur.com/ogNgDPI.jpg

Maria Nikolova
Industry News
May 20, 2019, 8:05 pm UTC


https://financefeeds.com/us-govt-bitfunder-operator-jon-montroll-clash-over-restitution-amount/

Quote
As the sentencing of Jon Montroll, the operator of Bitcoin-related services WeExchange and Bitfunder.com, approaches, the arguments between the US Government and the defendant regarding what the appropriate penalty has to be are becoming more intense.

It has already become apparent that the parties in the criminal case disagree on whether the defendant should get a probationary sentence or a prison term. The latest filings with the New York Southern District Court reveal that the disagreement spreads to the amount of restitution sought.

The Government requests that the Court order the defendant Jon Montroll to pay restitution to the victims of his scheme to defraud them in connection with the purchase and sale of Ukyo.Loan securities.

Montroll deceived investors and potential investors in a security he devised, Ukyo.Loan. Montroll launched this product on or about July 18, 2013. Montroll held Ukyo.Loan customer funds in the same commingled account as users of his Bitfunder and WeExchange services.

Beginning on July 28, 2013, Montroll’s systems were exploited by malicious users to access bitcoins held in the commingled account. Over the course of four weeks, those malicious users wrongfully extracted thousands of bitcoins that belonged to Montroll’s customers and investors. Importantly, the Exploit occurred in stages over a period of weeks.

Instead of immediately disclosing the Exploit to his users and investors on July 28, 2013, such that existing investors could redeem their shares for face value as promised, and thus reclaim their funds, before the Exploit reached its conclusion, Montroll concealed the existence of the Exploit, the Government notes. Further, on at least one occasion, Montrol falsely represented to customers that BitFunder was commercially successful.

Following the start of the Exploit, Montroll raised approximately 973 bitcoins through continued marketing of the Ukyo.Loan securities.

By the end of the Exploit, more than 200 Ukyo.Loan customers suffered losses, including those that invested before the Exploit began (and were deprived of their opportunity to withdraw before hackers took their funds) and those who invested after the Exploit began (who were deceived into believing they were buying a security related to a profitable business).

Following a meet and confer process, the Government has revised its proposed restitution figure to $183,530.04 compared to $212,629.32 initially sought. The defendant, however, disagrees.

In a Letter filed earlier today with the Court, the defense argues the Court should enter an order of restitution in the amount of $167,438 and should credit Jon Montroll with having already paid $137,367.55 towards that amount, leaving $30,070.45 in unpaid restitution.

The heart of the defense’s argument is that the reason why purchasers of Ukyo Loans were not able to redeem their Ukyo Loans is emphatically not because Montroll failed to disclose the hack. It is because, within the first 28 hours of the hack, more than 77% of the Bitcoins held in the WeExchange system had been stolen and, only 14 hours later, more than 99% of the Bitcoins previously held in the WeExchange wallet had been stolen. According to the defense, even if Jon Montroll had disclosed the hack after the first 28 hours of the hack, it would have been impossible for anyone with a claim to Bitcoins held in the WeExchange wallet to get more than a miniscule portion of their Bitcoins back.

Based on the restitution information provided to date, the Court should credit Jon Montroll with restitution payments of:

a $20,000 payment to the Registry of the Court;
a $25,000 payment to the victims of misappropriation;
$76,495.49 in payments to the post-hack purchasers of Ukyo Loans; and
$15,872.06 in other payments to the post-hack purchasers of Ukyo Loans,
towards his agreed-upon restitution of $167,438, leaving total unpaid restitution of $30,070.45.

The case continues at the New York Southern District Court.

SebastianJu
Legendary
*
Offline Offline

Activity: 2436
Merit: 1042


Legendary Escrow Service - Tip Jar in Profile


View Profile WWW
May 28, 2019, 08:51:58 PM
 #688

Following a meet and confer process, the Government has revised its proposed restitution figure to $183,530.04 compared to $212,629.32 initially sought. The defendant, however, disagrees.

In a Letter filed earlier today with the Court, the defense argues the Court should enter an order of restitution in the amount of $167,438 and should credit Jon Montroll with having already paid $137,367.55 towards that amount, leaving $30,070.45 in unpaid restitution.

Did Jon pay that amount back to Ukyo-Loan Creditors? It's not the amount that he gave back through the claim portal? Because weexchange users could withdraw there too.

Quote
Based on the restitution information provided to date, the Court should credit Jon Montroll with restitution payments of:

a $20,000 payment to the Registry of the Court;
a $25,000 payment to the victims of misappropriation;
$76,495.49 in payments to the post-hack purchasers of Ukyo Loans; and
$15,872.06 in other payments to the post-hack purchasers of Ukyo Loans,
towards his agreed-upon restitution of $167,438, leaving total unpaid restitution of $30,070.45.

The case continues at the New York Southern District Court.]https://financefeeds.com/us-govt-bitfunder-operator-jon-montroll-clash-over-restitution-amount/[/url]

So this restitution is solely for the Ukyo Loan scam? Or am I a "victim of misappropriation" since I unluckily deposited my funds after the hack happened? The amounts sound funny though. Cheesy

Please ALWAYS contact me through bitcointalk pm before sending someone coins.
jbreher
Legendary
*
Offline Offline

Activity: 2506
Merit: 1341


lose: unfind ... loose: untight


View Profile
May 28, 2019, 09:06:05 PM
 #689

Did Jon pay that amount back to Ukyo-Loan Creditors? It's not the amount that he gave back through the claim portal? Because weexchange users could withdraw there too.

Perhaps some weexchange users could withdraw. For others, just NO.

Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.

I've been convicted of heresy. Convicted by a mere known extortionist. Read my Trust for details.
discobean
Member
**
Offline Offline

Activity: 102
Merit: 10



View Profile
May 29, 2019, 03:39:20 AM
 #690

He also didn't payout a few weeks of asic miner dividends.
VayaconDios
Newbie
*
Offline Offline

Activity: 10
Merit: 14


View Profile
May 29, 2019, 05:02:34 AM
Merited by vapourminer (1)
 #691

More:

From:
Securities and Exchange Commission v. Montroll (1:18-cv-01582)
District Court, S.D. New York
Last Updated: May 21, 2019, 5:02 p.m. EDT
Assigned To: Paul G. Gardephe
Date Filed: Feb. 21, 2018
Cause: 15:77 Securities Fraud
Nature of Suit: 850 Securities/Commodities
Jury Demand: Plaintiff
Jurisdiction Type: U.S. Government Plaintiff

Docket entries
https://www.courtlistener.com/docket/6792677/securities-and-exchange-commission-v-montroll/

Parties and attorneys
https://www.courtlistener.com/docket/6792677/parties/securities-and-exchange-commission-v-montroll/

FJC integrated database
https://www.courtlistener.com/docket/6792677/idb/securities-and-exchange-commission-v-montroll/

Case 1:18-cv-01582-PGG. Document 42. Filed 05/20/19
Page 1 of 2
https://ia800700.us.archive.org/14/items/gov.uscourts.nysd.488944/gov.uscourts.nysd.488944.42.0.pdf


Plaintiff: SEC

REPRESENTED BY

Dugan William Edward Bliss
  (212) 336-0971
U.S. Securities and Exchange Commission (NY)
200 Vesey St.
Ste. 400
New York, NY 10281
ATTORNEY TO BE NOTICED  


LEAD ATTORNEY  
Marc Peter Berger
  (212) 596-9000
Fax: (212) 596-9090
Ropes and Gray LLP
1211 Ave. of the Americas
New York, NY 10036
ATTORNEY TO BE NOTICED  
nrd525
Legendary
*
Offline Offline

Activity: 1689
Merit: 1012


View Profile
July 13, 2019, 10:40:02 PM
 #692

https://www.coindesk.com/ceo-of-bitfunder-exchange-gets-14-months-in-prison-for-fraud-obstruction

Digital Gold for Gamblers
GTR_JOEY
Member
**
Offline Offline

Activity: 95
Merit: 10


View Profile
September 12, 2019, 12:37:10 AM
 #693

Good morning all,

I just come across this thread after reading that Jon Montroll has been sentenced. I had BTC located on Bitfunder.com and I've noticed some people have received letters in the mail regarding victims of crime, yet I have not. I'm from Australia and never been an American citizen and I would like to know if there is an agency in which I can follow this up with?

I realise this is a bit of a long shot but thought I would give it a shot anyway. Any help would be appreciated

Regards
jbreher
Legendary
*
Offline Offline

Activity: 2506
Merit: 1341


lose: unfind ... loose: untight


View Profile
September 12, 2019, 11:24:48 AM
 #694

Good morning all,

I just come across this thread after reading that Jon Montroll has been sentenced. I had BTC located on Bitfunder.com and I've noticed some people have received letters in the mail regarding victims of crime, yet I have not. I'm from Australia and never been an American citizen and I would like to know if there is an agency in which I can follow this up with?

I realise this is a bit of a long shot but thought I would give it a shot anyway. Any help would be appreciated

Regards

https://bitcointalk.org/index.php?topic=337523.msg50434179#msg50434179

Good luck.

Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.

I've been convicted of heresy. Convicted by a mere known extortionist. Read my Trust for details.
Pages: « 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 [35]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!