Quote from: sheenshane on April 06, 2019, 04:37:36 AM

You know what? Don't get offended but your arguments against them are nonsense. You have stated that you were convinced by them. The question is why?

Let's look at their argument first.

You knew about the Crypto Ponzi Scheme Platform but you were convinced? You knew that everything doesn't grow over time but you were catched with the trap of 10%+ a month in ROI?
You knew that they don't own the platform yet you are using them because of convincing you?

Let's move to your Argument.

You knew that they didn't have a financial service license, but you were convinced. Why?
You know that they didn't have a registered company yet you were convinced. Why?

Answer these questions and get a lawyer.

Quote from: magneto on April 05, 2019, 09:58:43 PM

Quote from: CryptoEntrepreneur on April 04, 2019, 10:14:32 PM

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.

---
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.

You could argue that he's acting maliciously to mislead you into investing into a ponzi scheme. And since he's receiving a portion of what you invest, and he admits to being an affiliate, you could possibly be able to use that argument to your advantage to establish the concrete link between him and the ponzi in question.

Although, we have no idea what jurisdiction you are in, or what the legal system is like within that jurisdiction. So whether this is actually an offense or not is unknown.

I've heard of in the US lawsuits following the exit scam of Bitconnect, when a bunch of youtubers that were promoting the scheme apparently got sued (Trevon James, for example). I haven't heard much about the proceedings apart from the fact that a lawsuit was pending, though.

I personally would say that your chances of success is slim, and you'll need to invest high amounts of energy and funds into this (again, concrete numbers are unknown since we don't know what country you are in). So unless it's a big amount involved, I wouldn't bother, but rather try settle this privately.

Quote from: PassThePopcorn on April 05, 2019, 08:07:13 PM

Quote from: CryptoEntrepreneur on April 04, 2019, 10:14:32 PM

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.

---
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.

Quote from: LeGaulois on April 05, 2019, 07:58:31 PM

If you were from The US or Canada, absolutely. One example is the story of 12DailyPro, it was a paid autosurf running more or less on the HYIPs model. until the SEC starts investigating this Ponzi. Another one is Bitconnect. Promoting a scam is an act punishable by a justice sanction. Usually a fine equivalent to the amount you won, so you have to pay back to the courts your winnings you generated with the scam.
As other users above said it depends on the laws in your country, that's what really matter.

Quote from: bitperson on April 05, 2019, 04:56:55 PM

You didn't tell us which those countries are. That's very important as legislation and legal process varies between countries.

Does your country have some kind of consumer or finance complaints board where you could file a case without having to incur the overhead of full-blown civil proceedings?

Quote from: buwaytress on April 05, 2019, 02:53:17 PM

I've never heard of a case in my country where promoters and referrals were sued. I have read of the government issuing them fines but it's typically related to false promotions or misleading advertisements (like on billboards).

Your best bet for success is to look for others like yourself, who lost money, and to find representation willing to go for class action. Then you pursue the business who accepted your funds. See, even if you bring your friend to court and win, your money's with the company and not your friend. Most court could ask is to ask him to return you his referral commission. That's my non-legal expert opinion.

You do have yourself to blame, after all. Hopefully you learnt something from this.

Thanks everyone, the country I'm from is Australia. The person who promoted it to me is American and he just moved back there.

I guess I can sue him, but I doubt I'd get anything out of it based on all the time and energy I pour into it.

Anyways, based on Australia what do you guys think? I could sue the promoter for $ or they'd just get issued some fine?