FBI to Investigate Bitconnect Activity

This is told by former investor and promoter of the project
07 March 2018   279

Trevon James, a former investor and promoter of the BitConnect crypto currency project, said that the agents of the US Federal Bureau of Investigation interrogated him about his involvement in the company's activities. This is reported by CoinDesk.

James said that in 10 days he should "testify and tell about his role in BitConnect", but did not specify in which format the hearings will be held. He also added that he never had information about the company's plans and the road map.

According to the ex-promoter, he expects that the testimony will be in the same format as his one and a half hour "conversation" with FBI agents, during which he told about his experience with BitConnect as a user.

It's really about the SEC. Testimony is really important you know, for the entire crypto space because ... it's about securities. Is Bitconnect a security, are cryptocurrencies, can they be considered securities? That's what it's about, it's not about whether I scammed people.
 

Trevon James 

Former investor and promoter, BitConnect

It should be noted that in the middle of January the crypto exchange project BitConnect announced the closure of the program of lending and exchange. The reason for this step was the two official resolutions on the termination of activity from the regulators of the states of Texas and North Carolina. Subsequently, two lawsuits were also filed against BitConnect. 

US Court Freezed BitConnect Assets

Funds freezing is the answer of second lawsuit against BitConnect
01 February 2018   255

The US court imposed a temporary ban on the accounts of the crypto project BitConnect, according to which all assets of the company should be frozen. It is 'the answer" to the second collective lawsuit filed against the company, Coindesk reports.

The resolution obliges respondents to disclose the addresses of the cryptocurrency wallets and trading accounts of BitConnect, as well as the identity of all to whom the company sent digital assets within the last 90 days.

The defendants have 10 days to execute the order. In addition, BitConnect International PLC, BitConnect LTD, BitConnect Trading LTD and Ryan Maasen are prohibited from transferring any assets without separate court authorization.

On the eve of these events, a resident of Kentucky, Brian Page sued BitConnect International, BitConnect LTD, BitConnect Trading LTD and Ryan Maasen, Oklahoma resident, who promoted the project.

Page is demanding compensation for losses to all investors who lost money after the closure of the cryptocurrency exchange and credit programs under pressure from the state regulators of Texas and North Carolina. The rate of BCC coins fell by 98.8% from the absolute maximum reached in December, and at the moment is about $ 6.

As a result, the court considered that the plaintiffs will not have a chance to recover their funds if the BitConnect assets are not frozen, and the temporary ban was imposed "in the public interest, because the public is interested in preventing mass fraud and other violations of securities laws."