Amendment Combines
All Lawsuits Into a Single Instance

The complaint comprises. All parties in the suit claim to have suffered after transferring fiat currencies and cryptocurrencies to Bitconnect to invest in the Bitconnect Investment Programs, as well as BCC tokens.

According to lawyer David Silver of law firm Silver Miller, which was named the”Class Counsel” of the case, the consolidated complaint combines all of the lawsuits which have been filed against Bitconnect into a single suit7bit scam Miller said that the new merged lawsuit names Bitconnect owners and promoters that were not previously targeted at the legal complaints.

“As more information has become available, we have 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 amount of investment loss in a short period of time, and the amount of fraud is staggering. We expect to move the lawsuit along as quickly as possible and hold as many people 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 deceptive and harmful content to unsuspecting victims across the globe,” the law firm stated in the amended filing. “Youtube was negligent in failing to warn those victims of the harmful content, for which Youtube compensated their creators and publishers.”

Additionally, the legal team claimed that the firm”cloaked” its own promotional materials in”technological sophistication and jargon” to conduct a deceptively”simple” fraudulent operation. “Victims would invest in the Bitconnect Investment Programs after they were driven to Bitconnect because of profitable partnerships that the promoter defendants had with Youtube,” it stated. “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 all of the funds 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 the”harmful content?” Share your thoughts in the comments section below!

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Source: bitcoincasinoreview.info