Investors filed a lawsuit against BitConnect for $ 770 …

Investors filed a lawsuit against BitConnect for $ 770 …

Investors filed a lawsuit against BitConnect for $ 770,000

On Wednesday, a lawsuit was filed against BitConnect in the Southern Federal District of Florida, the authors of which claim that the organizers of the scheme fraudulently seized an amount exceeding $ 770,000..

The plaintiffs were six former BitConnect investors, who in their statement identified several branches of the company registered in the UK, as well as several promoters who were promoting the investment scheme on YouTube and through various social channels..

Among others, the lawsuit lists Glenn Arkaro, who, according to the UK registry of companies, is the director of BitConnect. In addition to him, the document contains the names of Trevon Brown (better known as Trevon James), Ryan Hildreth, Craig Grant, John Doe (known as CryptoNick) and others.

The document begins with a reference to the Broadway musical Wonderland: “As you would expect, the marvelous crypto world BitConnect created was too good to be real. Together with the closure of the business in January 2018, the true essence of the scheme, which was a financial pyramid, numerous violations of securities laws and countless investors who lost up to 90% of their savings appeared on the surface “.

Each of the six plaintiffs lost between $ 11,500 and $ 200,000.

“Plaintiffs and class members are demanding compensation and fair reimbursement of funds invested in BitConnect, which they were persuaded to invest in a fraudulent way,” the document says..

Investors filed a lawsuit against BitConnect for $ 770 ...

In addition to the plaintiffs themselves, the statement mentions “members of the class,” that is, all BitConnect investors, excluding the defendants and related persons who had a commercial interest in the defendants’ activities. All investors meeting this criterion may join the claim.

It is noteworthy that some of the promoters indicated in the lawsuit, including Arkaro and Hildreth, hastened to remove all compromising videos from their YouTube channels after the first orders of the American authorities were passed..

Meanwhile, BitConnect continues to raise funds to fund its BitconnectX ICO, which is being promoted by an army of promoters in Indonesia and Asia..

Investors filed a lawsuit against BitConnect for $ 770 ...

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