Like I said, this is in the end going to have to be a class action format suit against Jam and no lawyer will take a case like this on without multiple examples of fraud...lets start assembling and documenting all of the individual examples of fraud perpetrated by Jam and build a case to present to the authorities first...we will probably have better luck with the authorities initially; civil action for damages can follow after an official fraud investigation is conducted.
I'm done with writing my thesis next month and have plenty of time to spent on figuring this class action suit format. Guess we should gather a lot of people that are involved, any suggestions to do it under BTCjam's radar?
I'm pretty sure you could do anything and it would fly under their radar. I could imagine btcjam is staffed by about 4 people with multiple jobs and one of those people has only one job, withdraw profit. It's a company designed to operate for a limited time, hoover up bitcoin and then slowly fade away when a real competitor arises.
If anyone has any interest in pursuing btcjam for arbitration awards or creating an alternate platform you can pm me. I've lost between 3 and 5btc myself.