Story of Four BitConnect Lawsuits

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Anyone who lost money in the infamous BitConnect scheme would be glad to learn that suits against the company get filed with implacable persistence. To date there are four various suits against the project and its parent companies. Patricia Mengesha wants to call BitConnect to account for deceiving investors and well-organized investment scam.

In accordance with the claim, BitConnect has deceived thousands of Minnesota citizens and hundreds of thousands of Americans. Though the most of people were aware this was a fraud, some went for it hoping for making good money. As for Mengesha, she invested $12 770 in total and finally was left with some hundreds of dollars.

This lawsuit follows in tracks of the similar one by Paul Long and Kiandra Love. They also focused on Ryan Maasen, one of the most active promoters of this Ponzi scheme on YouTube. As all cryptocurrency markets have grown last year, lavish promises made by BitConnect were even more fair for these complainants. Both of them put up some thousands of dollars into BitConnect.

Another class action suit against BitConnect was lodged as early as the beginning of January in Kentucky and charged the company with deliberate deception of thousands of people. Ryan Maasen was mentioned there as well thus he soon became one of the most wanted people in the world of online fraud.

The whole story was initiated by the first BitConnect lawsuit filed in Florida. Some affected ones joined their effort and lodged the case having claimed the loss of $771 000. Unlike the other ones, this suit was focused on BitConnect itself and five YouTube promoters. Apparently, this is just the beginning of the end for BitConnect and for anyone who has publicly attracted investors through referral marketing. The only thing left is just hope that all victims will have their losses repaired yet for now this seems to be unlikely.