Post
Topic
Board Legal
Re: Can I SUE A Crypto Ponzi PROMOTER?
by
PassThePopcorn
on 05/04/2019, 20:07:13 UTC
Hi, I got convinced by someone to invest in what I now think is a Crypto Ponzi Scheme Platform that said it could earn 10%+ a month in ROI. The person who convinced me didn't own the platform/company, they were simply a "Referral Marketer" that used that platform's "Referral Link" as apart of their Referral Program. The person would gain 5% of my daily profits from the Platform for referring me. 

The platform has locked my money in there (which is allowed according to their T&C) + my profits have dwindled to 1% a month.

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I want to sue the person who referred me to this platform, but they think otherwise:

Their Argument

- They don't own the platform and are simply "affiliate marketers" for it by using the referral link

- They left the country and live elsewhere (but promoted this platform to me in my country)

My Argument

- They didn't have a financial services license (but Bitcoin in my country is not considered a financial product)

- They didn't have a registered company

Does this mean I could sue the person who referred me too? Or Could I only sue the company behind the actual ponzi platform?

Please let me know if I can sue this person + the costs, process, etc. And if it's worth it at all. I've invested $40,000 and my money is stuck on this platform. 

I just remember a quote from one of my business class teachers in college who was a lawyer.

"You can sue anyone for any reason, the real question is will you win".

Contact a lawyer in your country and ask them, if they don't want to take the case, you have your answer. Most law firms will take a case if they feel they can make money doing so.