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Author Topic: OKPAY class action lawsuit for MtGox depositors  (Read 7301 times)
okpay-action
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August 15, 2014, 10:05:03 AM
 #1

Looking for people who deposited to MtGox via OKPAY when MtGox went bankrupt. OKPAY was holding customer MtGox deposits in their internal account and they promised to pay customers back if MtGox company would cease to exist. OKPAY also promised to keep customers updated about the situation but we have just learned that OKPAY has released the customer funds to MtGox, this has been confirmed with the MtGox trustee Kobayashi.

Here is the message OKPAY sent to customers who were asking about the money deposited to MtGox through OKPAY:
Quote from: OKPAY support
We want to assure you that your recent payments are on the internal MtGox account in the OKPAY System, and, if the MtGox company cease to exist without fulfilling its obligations to customers, we will send your recent payments back to your OKPAY account; so your funds will not be lost or stuck without any reason when we receive a confirmed report on the situation.

We will appeal to MtGox to address this issue and keep you abreast of the situation. We will do everything possible to ensure that our clients either receive the service they paid for or get their money back to the OKPAY account.

Thank you for your attention, OKPAY Inc. Management

OKPAY has failed to act according to their promises. We are going to sue OKPAY and its affiliates including Mayzus financial and also the CEO Konstantin Romanovsky. We have a Lawyer who is assisting us on this matter.

We are asking people who are using IRC to join freenode channel ##okpay-action, you can also send a pm if you are interested in joining the class action and the amount of deposits made through OKPAY. Even before posting this message we already have over 200k EUR worth of claims. I think it won’t be hard to gather at least over 1 million EUR and that kind of money will surely be worth suing OKPAY for.
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MinerLT
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August 15, 2014, 10:28:42 AM
 #2

i deposited to mtgox with okpay one day before site goes offline , about 6kUSD . and i also get same promises from OKPAY!

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August 16, 2014, 07:09:29 AM
Last edit: August 16, 2014, 08:17:54 AM by h1d
 #3

Absolutely after this.
Their added statements as I kept requesting for comments,

Quote
- Hello, please don`t worry, we will send your recent payments back to your OKPAY account; so your funds will not be lost or stuck without any reason when we receive a confirmed report on the situation.

- Unfortunately, at the present moment we do not have any exact information on the situation with the MtGox. We will get in touch with the company management and monitor further course of events.
We will do everything possible to ensure that our clients either receive the service they paid for or get their money back to the OKPAY account

- As you know all OKPAY payments are non-reversible according with our Terms of Service:
https://www.okpay.com/en/company/agreements/terms-of-service.html
OKPAY Inc. and MtGox Co Ltd. Companies have a contractual relationship. The decision to reverse the payments can not be done solely by OKPAY without violating our agreements. However we are working on the solution for this situation. As soon as we find a solution in cooperation with MtGox Co Ltd. - we will let our clients know.

- As soon as we receive the court decision regarding the MtGox account in OKPAY we can not do any refunds.

The postcard that was sent from gox states,
https://imgur.com/a/cMRQO

Quote
(6) (i) Any person assuming debts to the bankrupt shall not reimburse the debts to the bankrupt entity.
(ii) Any person possessing assets of the bankrupt shall not deliver such assets to the bankrupt entity.

If I'm not mistaken, why would OKPay release the funds when told not to.
Now that I'm worried my 80k USD will be lost and stuck without any reasons.
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August 16, 2014, 11:11:32 AM
 #4


The postcard that was sent from gox states,
https://imgur.com/a/cMRQO

Quote
(6) (i) Any person assuming debts to the bankrupt shall not reimburse the debts to the bankrupt entity.
(ii) Any person possessing assets of the bankrupt shall not deliver such assets to the bankrupt entity.

If I'm not mistaken, why would OKPay release the funds when told not to.
Now that I'm worried my 80k USD will be lost and stuck without any reasons.

Our lawyer has confirmed with the MtGox trustee Kobayashi that OKPAY has transferred funds to MtGox recently, we have also received a document indicating the payment. This is why we need to sue OKPAY and the associated companies and the CEO, we are going after their assets.

We will update this topic later with the deadline for participating the lawsuit.

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August 17, 2014, 04:55:14 PM
 #5

Does this mean we have a chance to get my $675,000 usd back or is this a limited liability case?

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August 17, 2014, 06:20:12 PM
 #6

Going to be writing about this on Coin Fire Smiley

okpay-action
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August 17, 2014, 06:48:07 PM
 #7

Does this mean we have a chance to get my $675,000 usd back or is this a limited liability case?

Of course we have a chance and we have a lawyer helping us with this. OKPAY has promised customers something but they haven't acted according to promises. If you are interested in joining the class action you can send pm with your account history showing proof of deposit to MtGox.
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August 18, 2014, 03:47:35 AM
 #8

Did not get the money last year, they can not be got this year
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August 18, 2014, 09:04:58 AM
 #9

Told support about the clauses in the postcard.

---
Thank you for informing us regarding this matter, we will contact MtGox lawyers and they will post the documentation and the agreement that the funds have been transferred to them and that there should be no claims to the OKPAY Company regarding delivering service to clients who made their payments in favor of MtGox
---

Not sure what that means though.
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August 18, 2014, 11:03:07 AM
 #10

Told support about the clauses in the postcard.

---
Thank you for informing us regarding this matter, we will contact MtGox lawyers and they will post the documentation and the agreement that the funds have been transferred to them and that there should be no claims to the OKPAY Company regarding delivering service to clients who made their payments in favor of MtGox
---

Not sure what that means though.

The claims against OKPAY are not for MtGox and their lawyers to decide, they are not the judge in this case and we are going to sue OKPAY. OKPAY made a promise to return the money and now they have released OKPAY depositor money without any notice. We have currently 500k usd worth of claims from OKPAY and our lawyer is looking in to having a contact from BVI where OKPAY is located. We will keep everyone informed.
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August 18, 2014, 01:46:44 PM
Last edit: August 18, 2014, 02:05:25 PM by S-Fattah
 #11

I do not post here very often, however I want to share some insight information regarding MtGox deposits and OkPay.

I had a chance to communicate with OKPay management and they told me that OkPay litigated with MtGox company to be able to refund money directly to the clients but MtGox denied such action.
Recently OKPay complied with the BVI court decision and had to sent the funds to MtGox. And  it looks like they were struggling for customers until the last minute.
There is absolutely no point of suing OKPAY because the company already complied with the court decision.

Right now we have to continue addressing this issue to MtGox as they caused us such troubles in the first place as well as they are in legal possession of our recent deposits.

okpay-action are you saying you want to sue a party for a promise (not even a documented agreement) that legally cannot be kept? what a joke lol
Just re-read the message again.

Quote
We want to assure you that your recent payments are on the internal MtGox account in the OKPAY System, and, if the MtGox company cease to exist without fulfilling its obligations to customers, we will send your recent payments back to your OKPAY account; so your funds will not be lost or stuck without any reason when we receive a confirmed report on the situation.

In fact, I see what was meant is that the funds will not be released before any decision (such as a court decision) is made. It is clear that OKPay did not say they'll refund the money no matter what. Court decision is a final decision - any legal organization has to comply with it.
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August 18, 2014, 02:23:58 PM
Last edit: August 18, 2014, 02:51:35 PM by okpay-action
 #12

I do not post here very often, however I want to share some insight information regarding MtGox deposits and OkPay.

I had a chance to communicate with OKPay management and they told me that OkPay litigated with MtGox company to be able to refund money directly to the clients but MtGox denied such action.
Recently OKPay complied with the BVI court decision and had to sent the funds to MtGox. And  it looks like they were struggling for customers until the last minute.
There is absolutely no point of suing OKPAY because the company already complied with the court decision.

Right now we have to continue addressing this issue to MtGox as they caused us such troubles in the first place as well as they are in legal possession of our recent deposits.

okpay-action are you saying you want to sue a party for a promise (not even a documented agreement) that legally cannot be kept? what a joke lol
Just re-read the message again.

Quote
We want to assure you that your recent payments are on the internal MtGox account in the OKPAY System, and, if the MtGox company cease to exist without fulfilling its obligations to customers, we will send your recent payments back to your OKPAY account; so your funds will not be lost or stuck without any reason when we receive a confirmed report on the situation.

In fact, I see what was meant is that the funds will not be released before any decision (such as a court decision) is made. It is clear that OKPay did not say they'll refund the money no matter what. Court decision is a final decision - any legal organization has to comply with it.

Quote
We want to assure you that your recent payments are on the internal MtGox account in the OKPAY System, and, if the MtGox company cease to exist without fulfilling its obligations to customers, we will send your recent payments back to your OKPAY account; so your funds will not be lost or stuck without any reason when we receive a confirmed report on the situation.

They are saying the money will be refunded if MtGox doesn't fullfill its obligations to customers.

MtGox lawyers have been clever to get the money to MtGox to be consumed away by fees. Probably OKPAY just thought it will be easy for them to hand out the money to MtGox rather than fight for their customers who made the deposits. This is from the MtGox website and the postcard that was sent to creditors:
Quote
(6)
(i) Any person assuming debts to the bankrupt shall not reimburse the debts to the bankrupt entity.
(ii) Any person possessing assets of the bankrupt shall not deliver such assets to the bankrupt entity.

It is for the court to decide whether OKPAY had a promise to be kept, transferring money to MtGox is a separate case. The question is what OKPAY was supposed to do with the customer money and we will find that out. We already have a lawyer and we are very confident in this class action. Friend of OKPAY who is communicating with the managament has nothing to do in here and we are not taking advice from him, we have our lawyers for that.
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August 18, 2014, 07:29:21 PM
 #13

And  it looks like they were struggling for customers until the last minute.

We were supposed to be notified of the progress, but since we never heard anything, I guess that didn't happen.
Your post almost sounds like an oops from okpay.

Quote
OkPay litigated with MtGox company to be able to refund money directly to the clients but MtGox denied such action.

I'm not a laywer but the quoted 2 clauses look to contradict whether gox can deny about the funds being held.
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August 19, 2014, 06:10:20 AM
 #14

I'm just trying to be rational here. You guys are all on emotions and I can understand that. But think about it.. It all looks to me as a hopeless attempt of stealing money from okpay, because mtgox stole yours. It is in okpay terms that all the payments are final and non-reversible. As they say they already complied with the court decision. And I know it's a bad situation for us, because now we have to fight with gox, but what's in it "suing for promises" Huh true madness if you ask me.
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August 19, 2014, 07:29:34 AM
 #15

Except MtGox, can I also deposits to other exchanges via OKPAY? such as bitstamp,  lakebtc?

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August 19, 2014, 07:51:07 AM
 #16

Except MtGox, can I also deposits to other exchanges via OKPAY? such as bitstamp,  lakebtc?
wrong thread? Cheesy
you can deposit to other exchanges, if it is written on the exchanges. For now I only know btc-e accepts OKPAY, with 1% fee at the moment (they change the fee often)

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August 19, 2014, 08:30:14 AM
 #17

Except MtGox, can I also deposits to other exchanges via OKPAY? such as bitstamp,  lakebtc?
wrong thread? Cheesy
you can deposit to other exchanges, if it is written on the exchanges. For now I only know btc-e accepts OKPAY, with 1% fee at the moment (they change the fee often)
1% fee
any fee greater than 0.5%, that is a robbery

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August 25, 2014, 01:46:51 PM
 #18

Great work. I just sent you a PM to be part of this.

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August 27, 2014, 04:15:31 PM
 #19

We are still collecting for more okpay depositors to join us. Current situation is that we have about 700k usd worth of claims.
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September 03, 2014, 08:31:37 AM
 #20

Are you expecting to reach a certain amount to start the lawsuit?
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September 03, 2014, 03:23:35 PM
 #21

How can I join it? i have about 3000$

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September 05, 2014, 05:57:43 AM
 #22

We got the payment receipt.
https://i.imgur.com/9ivhmvP.png
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September 05, 2014, 08:27:32 AM
 #23

We got the payment receipt.


this is really really bad

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September 08, 2014, 09:05:20 PM
 #24

Probably nothing you didn't know already, but here are some direct explanations from OKPAY on the issue:

OKPay ‘Ordered’ to Hand Over Customers’ $6.1 Million to Mt Gox
http://www.coindesk.com/okpay-ordered-hand-customers-6-1-million-mt-gox/
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September 09, 2014, 02:00:18 PM
 #25

I'd like to know what the lawyers are saying about this case that is in contact with the OP.
No one is addressing the contradictory statement in the postcard and the action taken.
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September 10, 2014, 04:22:47 PM
 #26

Not sure how true the statements are but in the CoinDesk article above, it says some kind of court decision that happened in the British Virgin Island (where OKPAY is located) forced them to pay Gox...

I think OKPAY forgot to check the official statement at Gox's site before going to the court. Well done.
https://www.mtgox.com/img/pdf/20140521_announce.pdf (English is in the second half.)
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September 10, 2014, 05:17:53 PM
 #27

this is it  Embarrassedall is lost.. our okpay deposits now in black hole

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September 11, 2014, 04:40:56 PM
 #28

I have some money tied up in this however here is my take on things.  About $4000.

OK Pay was contracted to deposit money into specific users accounts on mt gox.  They have not done this and are unable to do this with that order because it went to the general fund.

Where is the proof that any money was deposited into *my* account?  Transferring to gox does not credit me, if I am not credited personally and individually I have no claim at gox for anything. 

If it was not deposited into my account OKPay has not completed the transfer and thus is still liable for the funds I contracted be sent.  OKPay also sent that email long ago saying that if they are unable to transfer they would refund customers money and refused to do so for the longest time.

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September 13, 2014, 06:42:26 AM
 #29

I will be joining this. I have sent around $75,000 through OKPAY to gox.

If okpay had the money stuck on their end with a gox account, they should have FROZEN THE ACCOUNT and NOT rushed to return the money to GOX.  Embarrassed

The investigation is still in progress and NOTHING major has been published until now.  WHERE IS ALL THE FIAT MONEY PEOPLE SENT TO GOX?!??  Huh  Angry

(6)
(i) Any person assuming debts to the bankrupt shall not reimburse the debts to the bankrupt entity.
(ii) Any person possessing assets of the bankrupt shall not deliver such assets to the bankrupt entity.


I think the above is written in English, no?  Huh
The issue went to court and the local court where okpay is located ruled that the money must be given to gox since they are the owner of the account. This is likely the correct ruling from a legal standpoint, although I would personally like to see gox have less money.
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September 13, 2014, 11:52:58 PM
 #30

Yes, but was it give it to gox or order gox to credit it to individual accounts?  The local court cant order gox to do anything since the trustee and bankruptcy proceedings are in a foreign jurisdiction.

If its not credited to your account its not payment to you, it does not create any liability on gox to pay you anything during settlement later on.

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September 16, 2014, 01:36:04 AM
 #31

Would this apply to people who 'donated' to mtgox via OkPay a few months before everyting hit the fan?

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h1d
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September 22, 2014, 10:33:29 AM
 #32

Is OP still around? I sent PM days ago and not getting a response on what the current situation is.
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October 04, 2014, 06:18:46 PM
 #33

Has this activity completely stalled?
Did the lawyer figure it wasn't worth fighting for?
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October 06, 2014, 05:21:31 AM
 #34

This may be helpful to this group:

http://www.olivere.de/blog/archives/2014/03/04/gox_self-help/

The MtGox collapse hurt a lot of people. We are working to find out what happened. All insight is helpful.
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