RE: Craig Grant and Trevon James Hit With First of Many Lawsuits In Relation to Bitconnect Scam
I'm by no means a lawyer or legal expert but I think lumping everyone together is a big mistake. Each one of them will argue they are not part of the Bitconnect company,and potentially argue that Bitconnect isn't even a company and will try to get themselves seperated from this lawsuit.
At that point whomever is moving forward with the lawsuit will have to file a seperate suit for each potential defendent ie one for Bitconnect, one for Trevon, one for Craig one for Nick, etc, etc, etc.
Also, I don't know much about Craig but I do recall him in videos talking about how he keeps his money in Jamaica to avoid taxes or something along those lines so I'm pretty sure he'll be tougher to get to.
I suppose at the end of the day anyone can sue anyone for anything, I'll be curious to see how far this thing goes and what the end result is.
The whole thing is a black eye on crypto so that upsets me and I in no way support this type of stuff. That said I do think the vast majority of people involved at least to some extent knew what they were getting into and hoped their timing getting in and out would be correct. The only people I really feel for are the people who were completely clueless and new to crypto and had 0 idea what they were getting involved with.
This is just for a class action lawsuit, most likely if there were to be criminal charges, they would go after them separately. Putting money in any bank account can pretty much have the data seized by the US government so even hiding money abroad isnt safe (unless hes hiding it in corporations and obfuscated accounts). I do agree that there needs to be some level of personal responsibility for those who invested, but at the same time I do think that promoting what is essentially a financial product to incompetent people is still extremely predatory. They also framed it as legit in the beginning when I can almost guarantee they knew it was a ponzi. Later on they moved onto "yeah its a ponzi but you still can make money".