6/1/2023 0 Comments Latinum cryptoBack in February, The fledgling cryptocurrency also faced accusations of fraud in a Michigan court leading to a 95% fall in value amid talk of investment funds being “diverted and misappropriated for personal use. Bitcoin Latinum responded to the legal action by countersuing everyone involved in the lawsuit for not less than 1billion each for reputational and punitive damages. He is also said to have claimed that Bitcoin Latinum is the only insured cryptocurrency and fully insured by Marshall McKellan.ĭouble Trouble This is the second lawsuit aimed at Bitcoin Latinum to be filed this year. Kitco Gold Index Interactive Gold Chart Bitcoin in USD Currency Converter ScrapIt Mobile Application Site Map Online Store Be Informed of our special. Basile allegedly told Assofi that There would be a $50 million investment from large companies and $100 million from a Dubai-based investor. District Court for the Central District of California.”Īllegations include unregistered sale of securities in violation of both California law and the Securities Exchange Act as well as various frauds.Īssofi also accuses Donald Basile of making unsupported claims,breaking promises, and using company money for personal use. The price of Bitcoin Latinum (LTNM) is 3.32 today with a 24-hour trading volume of 29,358. Bitcoin Latinum, of Delaware, at the U.S. Bitcoin Latinum (LTNM) price has declined today. The court docket read as follows: “Complaint alleging crypto-based securities fraud in Arshad Assofi v. Todays Bitcoin Latinum price is 3.2811, which is down <1 over the last 24 hours. Bitcoin Latinum, a cryptocurrency endorsed by Phil Hellmuth, has found itself at the centre of a lawsuit, with allegations of securities fraud and misappropriation of funds aimed at one of its executives. Last week, a lawsuit was filed against Bitcoin Latinum corporate entity GIBF GP, Inc., as well as founder Donald Basile and 10 co-defendants.įalse Claims The lawsuit was brought by Arshad Assofi who alleges that he was defrauded of $15 million through false claims made by Basile and Bitcoin Latinum. Who is Bitcoin Latinum Based on the same source code and ideology of Bitcoin, Bitcoin Latinum is an open architecture cryptocurrency technology project that can handle large transaction. Bitcoin Latinum, sponsor of Phil Hellmuth, is being hauled into a California court over allegations of securities fraud.
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