6/19/2023 0 Comments Bitcoin latinum scamThus, as soon as it goes live, one could invest it, sell it and recoup the investment. Every time there was a transaction, the transaction fee went into Latinum 10% goes in and builds it up and.All traded money will be stored in a vault.The Latinum coin and tokens issued to Plaintiff would be trading in early to mid-November 2021, and all coins would be issued, no lockup.The Bitcoin Latinum project was “fully insured” by Marshall McKellan.Bitcoin Latinum was the only insured cryptocurrency.The Dubai investors would open 100,000 ATMs for Bitcoin Latinum by the end of 2022.An investor from Dubai would put in $100 million.The Bitcoin Latinum project would receive $50 million from big companies.Bitcoin Latinum would be interchangeable with Bitcoin. Bitcoin Latinum would be a “hard fork” from Bitcoin.Bitcoin Latinum was a project that received $20 million from the producers of Star Trek.In a June 2021 fundraising meeting, Basile allegedly made these claims to Assofi. California state law securities fraud violationsĪssofi also asserts that Basile, in asking for investment funds, made numerous unsupported claims and broke many promises while converting money for personal use.Unregistered dealer/broker under definitions of U.S.’s Securities Exchange Act.Securities fraud in violation of U.S.’s Securities Exchange Act.California state law violation for unregistered offer and sale of securities.Unregistered offer and sale of securities in violation of U.S.’s Securities Exchange Act.My guy CEO/Founder of Bitcoin Latinum w at Charity poker tourney #POSITIVITY /ixPu57jt3i- phil_hellmuth FebruLawsuit describes string of false claims and broken promisesĪssofi’s lawsuit alleges a string of actionable misdeeds by Basile and other Bitcoin Latinum insiders. Hellmuth has appeared with Basile at Bitcoin Latinum promoting events as far away as Miami and has referred to Basile as “my guy” on Twitter: Hellmuth and Bitcoin Latinum founder Basile are friends and reasonably close neighbors, both living in Palo Alto, California. The project has been prominently promoted inside the poker and gambling worlds by 16-time WSOP bracelet winner Phil Hellmuth, who is a paid endorser of the crypto company and was previously listed in at least one investment database as being an angel investor in the project. In the lawsuit, Californian Arshad Assofi alleges that Basile and Bitcoin Latinum defrauded him of more than $15 million in investment funds through false claims by Basile regarding the Bitcoin Latinum project. The lawsuit, filed against Bitcoin Latinum corporate entity GIBF GP, Inc., Bitcoin Latinum founder Donald Basile, and up to 10 “John Doe” co-defendants, alleges various forms of securities fraud in connection with the Bitcoin Latinum startup. Bitcoin Latinum, the cryptocurrency prominently promoted by poker superstar Phil Hellmuth, is again facing legal difficulties after being sued in California last week.
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