Amendment Combines
All Lawsuits Into a Single Instance

The consolidated complaint comprises a class action suit that’s been filed on behalf of a range of individuals and entities. All parties in the suit claim to have suffered financially after transferring 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 which were filed against Bitconnect into one lawsuittop 5 bitcoin casino bitcoin casino free faucet Miller stated that the new lawsuit also names owners and promoters which were not previously targeted in the complaints.

« As more information has become available, we have learned about more people 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 quantity of fraud, and the amount of investment loss in such a brief period of time is staggering. We expect to move the litigation along as quickly as possible and hold as many individuals accountable both in the United States 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 fraudulent 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 compensated their creators and publishers. »

In addition, the legal team claimed that the company »cloaked » its own promotional materials from »technological sophistication and jargon » to run a deceptively »simple » deceptive operation. « Victims would put money into the Bitconnect Investment Programs after they were driven to Bitconnect because of lucrative 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 to get more new investors to generate more new money for Bitconnect. »

The plaintiffs seek to recover the funds all they claim to have dropped. In a statement, Miller said this 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 is a whole lot of free useful services. As an example, have you noticed our Tools page? You may lookup the exchange rate. Or calculate the value of your holdings. Or create a paper wallet. And much more.