Quote from: tbomb on November 09, 2013, 01:59:01 AM

Quote from: tempestb on November 08, 2013, 07:53:24 PM

Yes but this is in a purely unregulated investment scheme. Everyone is going to end up guilty and the SEC would just seize everything and tell you to pound salt. I don't see how that helps. They'd have to build a case. It's not like some guy with a badge is going to go knock on his door and demand to see the bitcoin. They'd have to show some proof of wrong doing.

What? You mean CX did not register with the SEC?!

I, for one, was an unwitting investor and assumed that (1) because the business was run out of the USA, and (2) CX sold securities to US investors, that I would be afforded the protections of US securities law. The disclaimer about "virtual markets" and "nothing is real" has no effect: it was, in actuality, a real business that had assets, both physical and in BTC.

We were all under the impression that we were investing in a real business that was using the capital to buy mining hardware. In exchange, we would receive dividends. It would have been diligent of us to check to see that CX had registered with the SEC, but it is not our legal obligation. We have a federal claim b/c there is minimum diversity of the parties and the amount is question exceeds $75k, and there is a federal question.

We also have a state law claim for breach of contract, if somehow CX manages to wriggle out of the purview of the SEC. Although I suspect we can find written proof or something that comes close to a "contract", CX's consistent payment of dividends is a sufficient memorialization of the unwritten agreement. We can probably find more proof of an enforceable contract within the motions, emails, and his posting on this forum.

We have been duped, scammed, frauded, whatever, in the amount of $300,000. We have a civil case, FinCEN has a great criminal case.

CX, you are on notice. Please return our mula immediately.

I would be happy to write the complaint. I will need only a few documents and I can start immediately.

tbomb

What an idiot, not going to work