Amendment Combines
All Lawsuits Into a Single Case

A class action lawsuit that’s been filed on behalf of a selection of entities and individuals is comprised by the consolidated complaint. All parties in the suit 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 was named the »Class Counsel » of the situation, the consolidated complaint combines all of the lawsuits that have been filed against Bitconnect into one lawsuitbitstarz review Miller stated that the new consolidated lawsuit names promoters and owners that were not previously targeted at the initial legal complaints.

« As more information has become available, we’ve learned about more individuals involved in the rampant fraud connected 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 quantity of fraud is staggering. We hope to move the lawsuit along as fast as possible and hold as many individuals accountable both in america and abroad. »

Plaintiffs Accuse Youtube of Negligence

The amended lawsuit claims the Bitconnect Lending Program and the Bitconnect Staking Program were « fraudulent Ponzi/pyramid schemes. » It also accuses the company of using »multilevel affiliate markets » to market 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 across the globe, » the law firm mentioned in the amended filing. « Youtube was negligent in failing to warn those victims of the harmful content, for which Youtube paid their creators and publishers. »

In addition, the legal team claimed that the company »cloaked » its promotional materials in »technological sophistication and jargon » to run a deceptively »simple » fraudulent operation. « Victims would invest in the Bitconnect Investment Programs after they were driven to Bitconnect as a result of profitable partnerships that the promoter defendants had with Youtube, » it stated. « Bitconnect would then pay present investors with new money from new investors, who were in turn expected and incentivized for more new investors to generate more new cash for Bitconnect. »

The plaintiffs seek to recover the funds all they claim to have dropped. 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!

Images courtesy of Shutterstock

At there’s a bunch of free useful services. As an example, have you noticed our Tools page? You can search the exchange rate. Or figure out the value of your current holdings. Or create a paper wallet. And much more.