The consolidated complaint comprises a class action lawsuit that’s been filed on behalf of a selection of individuals and entities. All parties in the lawsuit claim to have suffered after moving fiat currencies and cryptocurrencies to Bitconnect to invest in BCC tokens, as well as the Bitconnect Investment Programs.
According to lawyer David Silver of law firm Silver Miller, which has been named the»Class Counsel» of the situation, the consolidated complaint combines all of the lawsuits which have been filed against Bitconnect into a single lawsuitbitcoincasino bitcoin casino Miller said that the new consolidated lawsuit names owners and promoters which weren’t previously targeted in the legal complaints.
«As more information has become available, we have learned about more individuals involved in the rampant fraud associated with Bitconnect,» Silver explained and best bitcoin casino reddit. «The Amended Consolidated Class Action Complaint highlights those celebrities who participated in the creation of Bitconnect and the promoters of Bitconnect. The total amount of investment loss in such a short period of time, and the amount of fraud is staggering. We expect to move the lawsuit along as fast as possible and hold as many people accountable both in america and abroad.»
The amended lawsuit claims the Bitconnect Lending Program and the Bitconnect Staking Program were «fraudulent Ponzi/pyramid schemes.» In addition, it accuses the company of using»multilevel affiliate markets» to promote its investment programs.
«Several of the promoter defendants had partnerships with Youtube pursuant to which the Bitconnect Defendants disseminated deceptive and harmful content to unsuspecting victims throughout the planet,» the law firm stated in the amended filing. «Youtube was negligent in failing to warn those victims of the harmful material, for which Youtube paid their creators and publishers.»
In addition, the legal team claimed that the company»cloaked» its own promotional materials from»technological sophistication and jargon» to conduct a deceptively»simple» deceptive operation. «Victims would invest in the Bitconnect Investment Programs after they had been driven to Bitconnect because of profitable partnerships the promoter defendants had with Youtube,» it said. «Bitconnect would then pay existing investors with new money from new investors, who were in turn expected and incentivized for more new investors to produce more new money for Bitconnect.»
The plaintiffs seek to recover the funds all they claim to have lost. In a statement, Miller said such an outcome would be»ideal.»
Do you agree that Youtube was negligent in compensating Bitconnect promoters and failing to warn prospective investors of their»harmful content?» Share your thoughts in the comments section below!
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