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RE: BitConnect will let its top promoters take all the blame and punishment.

in #cryptocurrency7 years ago

Since the actual big fish are not in the US, and won't be tangled up in this, the monetary rewards are likely to be small. Class action lawsuits are typically going after big money, not just revenge. The law suite is filed by a relatively small firm from a small town in Florida looking to make a name for itself. They will likely win, but the reward will be mostly PR points. As for the promoters, they are already playing victim and will likely run away to avoid dealing with this.

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They risk prison time though if they disregard a summons to court though no?

@tolkatore Won't it just result in a default judgment against the person who ignores the summons?

It would, but if you ignore a court summons, they create a warrant of arrest for whoever doesn't show.

Even in a civil action? Good to know :)

You can't just ignore a summons to appear in court without repercussions, not in the States anyway.

But if they leave the US nobody is going to bother looking for them.

One of them is a 17 year old kid, so he ain't going no where, and two more of them are pretending they didn't do anything wrong, so I doubt they'll leave.

That's true as well! I think the biggest damage to these promoters will be in loss of reputation! And they deserve it too.

If they leave the US, they are freeeeeeee

Can they leave if there is an outstanding summons for them? Can only the police bro g them innor can others, in a similar way to people who skipped bail?

One of them is only 17, so he's not going anywhere, and the others are pretending that they didn't do anything wrong.