RE: How to Join the Bitconnect Class action Lawsuit?
I'm surprised a customer of Bitconnect can be sued. I don't think an Affiliate is considered an employee or officer so what legal grounds is there to sue Trevon? If he himself invested and did not know it was a scam, what legal responsibility does he have? Does he admit to knowing? Was there willful intent to scam? No one was forced by him to invest. Seems strange to me to go after someone not working for the company. Then again, I don't know what his relationship or agreement with them was.
Better solution - since BCC is still trading just have the company offer more BCC to its customers wallets at the current price to offset the losses. That way they keep their customer base and can proceed with their other business plans (exchange, cards etc.) Everyone who agrees to receive the extra BCC will not be allowed to sue. Done, everyone's happy.
When you promote a business and earn commission money, you become a contractor for commissions. If you are an independent contractor making a living out of those profits, it is your responsibility to investigate what you are selling. He was not a salaried payroll employee. Whether he used the profits to invest on the scam itself is irrelevant.
Yeah but all affiliates promote businesses and earn commissions. Are you saying they should all do the research and investigate or face being sued? It’s tough enough suing an employee or officer of a company as there is the protection of piercing the corporate veil. Unlikely affiliates will have an issue.
Yes, anything you are promoting/selling creates a liability for you and paints a target on your back. Specially Ponzi schemes
See on SEC website on Ponzi schemes promoters:
https://www.sec.gov/fast-answers/answersponzihtm.html
See cases of Ponzi promoters in US being sued , extradited, imprisoned and ordered to pay:
http://www.wbur.org/news/2017/05/26/telexfree-promoter-order
http://www.sun-sentinel.com/local/palm-beach/fl-ponzi-jack-utsick-20141208-story.html
https://archives.fbi.gov/archives/columbia/press-releases/2009/co111909.htm
Interesting... Thanks for sharing!