{"id":1484,"date":"2018-12-26T16:47:42","date_gmt":"2018-12-26T16:47:42","guid":{"rendered":"https:\/\/www.silvermillerlaw.com\/?p=1484"},"modified":"2024-09-20T17:15:16","modified_gmt":"2024-09-20T17:15:16","slug":"silver-miller-strikes-again-with-another-alleged-crypto-fraud-lawsuit","status":"publish","type":"news_posts","link":"https:\/\/www.silvermillerlaw.com\/press\/in-the-news\/silver-miller-strikes-again-with-another-alleged-crypto-fraud-lawsuit\/","title":{"rendered":"Silver-Miller Strikes Again With Another Alleged Crypto Fraud Lawsuit"},"content":{"rendered":"<p>Florida law firm Silver Miller is making quite a name for itself as it files <a href=\"https:\/\/www.silvermillerlaw.com\/wp-content\/uploads\/2018\/12\/2018-12-26-DE-1-COMPLAINT.pdf\">yet another class action lawsuit<\/a> against a crypto Ponzi scheme called \u201cCoin Signals\u201d allegedly pervaded by Jeremy Spence of New York, Jaime Cruz-Herrera of New Jersey and associates.<\/p>\n<p><a href=\"https:\/\/www.prnewswire.com\/news-releases\/silver-miller-files-lawsuit-against-jeremy-spence-for-coin-signals-cryptocurrency-fund-fraud-300770884.html\">According to a related press release<\/a>, Silver Miller is also leading class actions against the Kraken, and Cryptsy crypto exchanges, the BitConnect pyramid scheme, and \u201cagainst pre-functional token ICO promoters Tezos and Monkey Capital.\u201d<\/p>\n<p>The case, which is being pursued in the Southern District of New York on behalf of ten plaintiffs so far, claims that Spence, with help from \u201chype man\u201d Cruz-Herrera, \u201csolicited followers from around the world to join him on social media channels (including Telegram and Discord) and online discussion groups focussed on cryptocurrency,\u201d and, \u201c\u2026from behind the veil of the Internet\u2026represented to plaintiffs and others that he was operating several different hedge funds including the ALTS FUND, the LONG TERM FUND\u2026and COIN SIGNALS MEX FUND\u2026as well as managed entry to an Initial Coin Offering (the \u2018Evermarkets ICO\u2019).\u201d<\/p>\n<p>The complaint of civil action claims that: \u201cIn actuality, SPENCE was nothing more than a young, energetic con man operating a classic Ponzi scheme,\u201d one who possessed none of the necessary accreditation to carry out fiduciary responsibilities on behalf of investors.<\/p>\n<p>The filing also states that neither the hedge fund nor any of the projects were properly registered with relevant authorities, nor were they following pertinent regulations.<\/p>\n<p>The accused also allegedly invested other people\u2019s money without proper care or assurances and may have accumulated 1300 Bitcoins from clients (worth more than $10 million dollars) at the top of the scheme.<\/p>\n<p>Spence is also alleged to have claimed he\u2019d be able to wring outsized returns of \u201c20X\u201d from crypto markets.<\/p>\n<p>When the alleged Ponzi began to \u201ccrumble\u201d in late 2018, the lawyers say Spence refused to allow investors to withdraw funds and \u201cproffered untenable excuses about \u2018hacks\u2019 and \u2018family\u2019 emergencies as a way to stall for time to plot his next move.\u201d<\/p>\n<p>The lawyers also claim that, at the time of the filing (December 26th), the funds are still being held, \u201cunder equally unwarranted and unjust means.\u201d<\/p>\n<p>Plaintiffs are seeking the restoration of Bitcoins they transferred to Spence, monetary penalties, \u201cimposition of a constructive trust over the assets collected by Spence\u201d and a trial by jury.<\/p>\n<p style=\"text-align: center;\">See the Full Article:<\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/www.crowdfundinsider.com\/2018\/12\/142808-silver-miller-strikes-again-with-another-alleged-crypto-fraud-lawsuit\/\">Silver Miller Strikes Again With Another Alleged Crypto Fraud Lawsuit<\/a><\/p>\n","protected":false},"featured_media":1790,"template":"","meta":{"_acf_changed":false,"_links_to":"","_links_to_target":""},"news_categories":[10],"class_list":["post-1484","news_posts","type-news_posts","status-publish","has-post-thumbnail","hentry","news_categories-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - 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