Bitconnect must slip on the dock a little to the side: Since the 3. July YouTube to the co-defendants in the trial against the crypto-Investment platform. Bitconnect is suspected to be a Ponzi scheme. Therefore, YouTube would have been permitted on its pages, no advertising for the Investment platform, switch.
Penny, you’re still going down: The plaintiff in the Bitconnect process now take YouTube to the visor. This is demonstrated by the court extracts from the 3. July. There it is, YouTube have failed, is its user, from fraudulent advertising to warn of content and the Bitconnect investors considerable damage caused. A total of Bitconnect and his Partner should have released 70,000 hours of Content on YouTube. This content has been clicked 58.000.000 time.according to the indictment, hundreds, if not thousands, of Concerned in the fraudulent business model of crypto-Investment platform has lured
In the indictment it says that the video portal will have benefits with his “YouTube Partner Program” to greatly of the click numbers. YouTube as a “Partner” of a channel, the responsibility for its contents. A partnership means, in the legal sense, that a Partner can be taken for the Actions of each other in joint and several liability. This is “one of the many reasons why the law of individuals (and firms) demands, your partners Wisely select”.
One of the co-defendants had on his Channel, the part of the Partner program of YouTube is generated 33 million Views. By the Sponsosring of approximately 12,000 investors, he will have a profit of about five million dollars. A majority of these investors, he promoted on YouTube, which is why his win as a direct result of its partnership with YouTube.
Bitconnect: A Snow Ball System?
The class-action lawsuit against Bitconnect was on 24. January, submitted. Plaintiffs, investors who saw their money being cheated. The investment platform had failed, among other things, to the Texas securities authority register. In addition, the Investment platform have advertised with unrealistic promises. So maximum profits had been promised, in spite of the generally high volatility of crypto-currencies with minimal risk. Technical risks the platform has been concealed deliberately. In addition, the company had deliberately misled the Public than it spent for your Coin is a price guarantee. In the indictment, the business was referred to model of Bitconnect as a snow ball system.