Follow Us

Judge Warns Onecoin Victims About The Dismiss Of Their Case

Share on facebook
Share on twitter
Share on linkedin

Share

onecoin
Share on facebook
Share on twitter
Share on linkedin
  • The case of the victims of fraudulent cryptocurrency scheme OneCoin might be dismissed warns the Judge Valerie Caproni of the New York Southern District Court.
  • The clients claimed that they are the victims of massive fraud that caused injuries over $4 billion through a densely-packed multi-level-marketing system.

The case of the victims of fraudulent cryptocurrency scheme OneCoin might be dismissed warns the Judge Valerie Caproni of the New York Southern District Court. This followed after the One Coin clients filed an amended complaint on August 2019, against the crypto scammers. The clients claimed that they are the victims of massive fraud that caused injuries above $4 billion through a densely-packed multi-level-marketing system.

OneCoin’s $4 Billion Cryptocurrency Scam

In the First Amended Class Action Complaint, Lead Plaintiff Donald Berdeaux and plaintiff Christine Grablis alleged about the certainty of the massive fraud committed on millions of individual investors throughout the world. This allegement was done under the federal securities laws and common law against key operators of OneCoin Ltd.

The plaintiffs, in this case, refers to all the individuals and entities, including the plaintiffs themselves who transferred to the OneCoin defendants directly or indirectly. Also who transferred any fiat currency or cryptocurrency from April 2014 through to including March 2018 to invest in OneCoin Trader Packages or OneCoins and all the individuals who as a result, faced sufferings of the financial injuries.

However, on April 10, 2020, it is reported that the Memorandum Opinion & Order signed by the Judge, provided April 16, 2020, as the deadline for lead plaintiff to state reasons about why their case must not be dismissed. Also stating that the failure to provide the same will lead the prejudice to be prosecuted under Fed. R. Civ. P. 41(b). A severe warning has been imposed that the failure of complying with the Court’s orders by the lead plaintiff and going forward has complete chances to result in sanctions. The Judge also made a note that the plaintiffs had not provided a letter update for either March or April.

INSIGHT INTO THE EARLIER EVENTS

  • On August 2019, the Court ordered monthly updates from Lead Plaintiff regarding the status of the process and warning them against the missing of any of the deadlines ordered. 
  • Lead Plaintiff posted a proof of service through the Court’s approved alternative means for defendants OneCoin Ltd. and Ruja Ignatova on February 3, 2020.
  • On February 28, 2020, Lead Plaintiff is reported to have dismissed Irina Dilinska and Sebastian Greenwood from the case, voluntarily. The victims filed a motion to dismiss their claims against both the defendants.

Leave a Reply

Your email address will not be published. Required fields are marked *

Download our App for getting faster updates at your fingertips.

en_badge_web_generic.b07819ff-300x116-1

We Recommend

Top Rated Cryptocurrency Exchange

-
00:00
00:00
Update Required Flash plugin
-
00:00
00:00