Legal complaint against bitcoinica.com

[bittenbob]

Dear Bitcointalk.org users,

We at Bitcoin Magazine were unaware of the actions or intentions of the user paraipan and subsequently asked him to remove the reference to Bitcoin Magazine in his signature. He volunteered to work for the magazine as a Spanish translator but has not had any direct involvement with the development of the magazine to date. His actions do not in any way reflect the opinions of Bitcoin Magazine. His future at the magazine is pending further discussion.

Sincerely,

Bitcoin Magazine

[1714873742]

1714873742

[1714873742]

1714873742

[RaggedMonk]

I think bitcoinica should respond to this post offically .

+1

Three days ago, zhou said this.

In the future a few weeks, we will make our legal information fully available to our users. So please just wait while we're getting everything ready.

[genjix]

Anyone who does business with this guy would be highly unethical. He has used the law (which exists to protect customers) as a commercial weapon. He has a conflict of interest. It is when companies (and large corporations) use the law in this manner that a society becomes corrupt. This guy is a promoter of corruption.

i don't provide any kind of platform similar to bitcoinica, i don't understand your point

As paraipan runs a business with competing interests, his legal filing is of dubious legality. This is termed conflict of interest. His role as a competing business has the potential to possibly corrupt his other acts in this area. Legally he has no role in this area. He is not a customer.

http://bitcoinmedia.com/bitcoinica-legal-complaint/

It does not matter. You're in a legally grey area by using the law in this way. And in a highly unethical way too.

[paraipan]

Anyone who does business with this guy would be highly unethical. He has used the law (which exists to protect customers) as a commercial weapon. He has a conflict of interest. It is when companies (and large corporations) use the law in this manner that a society becomes corrupt. This guy is a promoter of corruption.

i don't provide any kind of platform similar to bitcoinica, i don't understand your point

As paraipan runs a business with competing interests, his legal filing is of dubious legality. This is termed conflict of interest. His role as a competing business has the potential to possibly corrupt his other acts in this area. Legally he has no role in this area. He is not a customer.

http://bitcoinmedia.com/bitcoinica-legal-complaint/

It does not matter. You're in a legally grey area by using the law in this way. And in a highly unethical way too.

I don't think there is a conflict of interests at all, it's only a warning to the competent authorities of the potential unregulated or illegal activities until the opposite is proven

[RandyFolds]

Anyone who does business with this guy would be highly unethical. He has used the law (which exists to protect customers) as a commercial weapon. He has a conflict of interest. It is when companies (and large corporations) use the law in this manner that a society becomes corrupt. This guy is a promoter of corruption.

i don't provide any kind of platform similar to bitcoinica, i don't understand your point

As paraipan runs a business with competing interests, his legal filing is of dubious legality. This is termed conflict of interest. His role as a competing business has the potential to possibly corrupt his other acts in this area. Legally he has no role in this area. He is not a customer.

http://bitcoinmedia.com/bitcoinica-legal-complaint/

It does not matter. You're in a legally grey area by using the law in this way. And in a highly unethical way too.

I don't think there is a conflict of interests at all, it's only a warning to the competent authorities of the potential unregulated or illegal activities until the opposite is proven

If I was in spain, I would probably accuse you of being a pedophile as a warning to the competent authorities of the potential sexual abuse until the opposite is proven.

[Littleshop]

I don't think there is a conflict of interests at all, it's only a warning to the competent authorities of the potential unregulated or illegal activities until the opposite is proven

We have to prove we are innocent? 

When asked about what laws you thought they broke you said you did not know.  So what are you accusing them LEGALLY with that complaint you put in writing? 

[RandyFolds]

Nobody likes a rat. . .

i don't get your point

Point being that you are a squealing rat-fink bastard for dime-ing out someone who didn't harm you or society in any manner and whom you aren't certain even committed the offenses you claim.

And you posted it all here, perhaps thinking that the community would applaud you for it, exacerbating the idiocy of your actions.

[paraipan]

I don't think there is a conflict of interests at all, it's only a warning to the competent authorities of the potential unregulated or illegal activities until the opposite is proven

We have to prove we are innocent?  

When asked about what laws you thought they broke you said you did not know.  So what are you accusing them LEGALLY with that complaint you put in writing?  

again, i'm not accusing anyone with nothing only putting it into the authorities attention, i recommend you do the same and let them investigate

@RandyFolds please keep those comments for yourself if you don't have anything of value to add, are you affiliated in any way with bitcoinica ?

[Littleshop]

I don't think there is a conflict of interests at all, it's only a warning to the competent authorities of the potential unregulated or illegal activities until the opposite is proven

We have to prove we are innocent? 

When asked about what laws you thought they broke you said you did not know.  So what are you accusing them LEGALLY with that complaint you put in writing? 

again, i'm not accusing anyone with nothing only putting it into the authorities attention, i recommend you do the same and let them investigate

Third ask.  What are you accusing them of in that complaint?  The title of YOUR thread is "Legal complaint against bitcoinica.com"

[RandyFolds]

I was just explaining why you are repeatedly being called a rat. You said you didn't get the point. I already stated that I have never even visited the site, and probably never will.

NOTHING productive will come of this thread...it is already four pages of people calling you out for your weasely actions, with one guy agreeing with you.

[lodcrappo]

with regretting to inform, complaint of official designation to "Send cash with bitcoins !" non regulated and violation.

[the joint]

Assuming this is simply a request to authorities to investigate, here's what I have to say:

To Paraipan:  Ok.  Looks fine to me.

To everyone else:  SO FUCKING WHAT?

[paraipan]

I don't think there is a conflict of interests at all, it's only a warning to the competent authorities of the potential unregulated or illegal activities until the opposite is proven

We have to prove we are innocent? 

When asked about what laws you thought they broke you said you did not know.  So what are you accusing them LEGALLY with that complaint you put in writing? 

again, i'm not accusing anyone with nothing only putting it into the authorities attention, i recommend you do the same and let them investigate

Third ask.  What are you accusing them of in that complaint?  The title of YOUR thread is "Legal complaint against bitcoinica.com"

of nothing, the exact translation of "denuncia" in Spanish language is "complaint" in English, you can understand it as the complainant gives a heads up of suspicious activity to authorities

[Littleshop]

I don't think there is a conflict of interests at all, it's only a warning to the competent authorities of the potential unregulated or illegal activities until the opposite is proven

We have to prove we are innocent? 

When asked about what laws you thought they broke you said you did not know.  So what are you accusing them LEGALLY with that complaint you put in writing? 

again, i'm not accusing anyone with nothing only putting it into the authorities attention, i recommend you do the same and let them investigate

Third ask.  What are you accusing them of in that complaint?  The title of YOUR thread is "Legal complaint against bitcoinica.com"

of nothing, the exact translation of "denuncia" in Spanish language is "complaint" in English, you can understand it as the complainant gives a heads up of suspicious activity to authorities

You are accusing them of nothing?  Last time I did that... I didn't need to do anything.... at all.  (talk, visit the cops, post on a board about it etc)

What suspicious activity do you cite? 

[paraipan]

@Littleshop hate repeating it all over this thread

quoting psy:

@teflone: I could translate it to you but I'll just tell you the general guidelines.
1- He discovered a website in the internet who takes money from people without asking for identification documents.
2- That the only information they have in the webiste is about how to send money to them.
3- That in a later date they started accepting deposits from people and they play with them on the market and promise high returns on the investment.
4- That he has asked more information about the company in public forums, I suspect bitcointalk.org, and have got no answers from the company, thus believing they are a sweat shop.
5- He hasn't personally lost any money or patrimony with said company but it's his desire that the police investigates them

[speedybugsy]

Man.. guys like you are the reason why I hate the law.

If you don't like a service don't do business with it.

[teflone]

To OP

Go after an ACTUAL proven scammer you idiot..

Your lack of brains is amazing...

Such slime...

[paraipan]

To OP

Go after an ACTUAL proven scammer you idiot..

Your lack of brains is amazing...

Such slime...

lol, how can you prove a scammer before he scams ?

[Matthew N. Wright]

My comment about this in another thread:

Everytime I go to sleep.... Christ.

...


There is nothing wrong with paraipan doing what he did though given the information that he had. He doesn't know Zhoutong like I do, nor did he bother to research Singaporean law and get to the bottom of all the legalities of Bitcoinica. Absolutely nothing will come of the police report paraipan filed, and within a month the information paraipan wanted will be made available to the entire community anyway so please don't be so butthurt about it.

Also, paraipan speaks Spanish and English. He wants to be a part of the magazine translating. Whenever I can use him, I will. Just...let's start asking questions first people. There are literally thinktanks just sitting around waiting for inquiries and everyone seems to just get bored and run off on tangents.

Man.. guys like you are the reason why I hate the law.

If you don't like a service don't do business with it.

Laws were originally created to help keep order and minimize difficulties living in a society. International laws are very complex and require months if not years of litigation to come to decisions on. The law that Bitcoinica operates under is not an international one and according to my own research, anyone other a Singaporean citizen themselves can use Bitcoinica legally regardless of it's registration. Bottom line, regardless of how absurd it may seem in relation to your own country's laws and practices, what is illegal in your country isn't necessarily illegal in another. Parapain didn't know this and he hasn't caused any trouble at all.

Here's how it's going to play out:

1) Police will push the inquiry to the detectives unit
2) They will find out where Bitcoinica operates out of
3) They will find out that the bank accounts are in Singapore
4) They will close the inquiry.

Nothing lost, only a few members getting an education. If one single member of the forum filing a police report locally could stop bitcoinica, then that wouldn't be a company worth anything now would it? I hope you guys don't seriously think it'd be that easy...

Spain != Singapore

Go after an ACTUAL proven scammer you idiot..

It's just lack of information. To parapain, this was a potential scammer. He couldn't have known without knowing, and if he knew he wouldn't have needed to know. You dig? Now he knows.

[teflone]

 I dig....He's a jive turkey...