Trevon James has uploaded a brand new video discussing his half within the ongoing SEC investigation into BitConnect.
I’ve given up attempting to determine whether or not James is parodying himself as a securities fraud suspect, so the next is reported “as is” with a straight face.
Trevon James Brown is an individual of curiosity in an ongoing SEC investigation into the collapsed BitConnect Ponzi scheme.
Particulars of the SEC’s case have but to be made public, so sadly we are able to’t present you detailed case-specific info.
What we are able to let you know is final September James was subpoenaed to testify earlier than the SEC. Final we heard James was prohibited from speaking about his testimony, however that directive now appears to have gone out the window.
In an August twelfth video uploaded to his YouTube channel, James reveals he was subpoenaed to testify earlier than 5 SEC attorneys.
Regardless of stating he didn’t perceive the recommendation he “search counsel and all these items I don’t perceive”, James is adamant he didn’t want an lawyer.
Moreover, regardless of driving round in a BMW SUV, shopping for land and constructing a home on it, and just lately searching for recommendation on investing one million {dollars} into real-estate, James maintains he can’t afford a lawyer.
James claims his testimony got here to an finish after he was posed doubtlessly incriminating questions and pleaded the fifth.
Later within the video James contemplates his position as a high promoter of BitConnect, and the authorized ramification this brings with it.
[8:36] My thoughts state up till just lately was, what I’m seeing on-line is, “you’re going to jail”, “you need to go to hell”, “you’re a scammer” da-da-da.
In order that kinda makes my … that just about forces a sure perspective that um, makes me have this attitude of myself that, properly perhaps I did one thing fallacious, y’know?
Perhaps I’m going to jail. Perhaps I’m having all these unhealthy ideas due to folks on-line.
And so up till just lately that was my perspective.
However then just lately I’ve simply been like, properly maintain on a second. Why would I be in bother for um selling one thing that I didn’t create?
The individual that must be held accountable is clearly the person who created this.
I can’t assist that the (BitConnect) web site was made accessible to me. The web site shouldn’t have even been on-line.
The truth that somebody made it (the web site) accessible to me, ought to wipe away the guilt from me trigger I didn’t create the factor.
Had James of spent a few of his BitConnect fortune on a lawyer, they’d have little question knowledgeable him that promotion of unregistered securities is prohibited.
Blind to how being a high promoter and net-winner in a multi-billion greenback Ponzi scheme makes him an individual of curiosity in ongoing investigations, James expresses his dismay at receiving an e-mail from the SEC “just a few days in the past”.
[10:12] A few days in the past I obtained an e-mail from the SEC once more. They need me to name.
And I’m like, “for what?” Like, I would like this to go away.
…I’m bored with listening to about shit man. I’m bored with listening to about it. It’s OLD.
Fairly than wait James opted to talk with the SEC as quickly as attainable.
[11:40] I obtained the decision right now they usually’re telling me that they wish to press prices in opposition to me for 3 issues.
Not surprisingly, these “three issues”, in line with James, are violations of the Securities and Trade Act.
Laughing concerning the alleged violations as he reads them out, James quips the Securities and Trade Act “is bullshit”.
[12:29] Mainly the Trade Act (violations) is I used to be promoting securities.
And I stated, “Maintain on a second, I wasn’t doing that, the web site was doing that.”
“Properly no, you have been performing as a dealer.”
“Man I’m not no fucking dealer man. Clearly I’m not a dealer.”
Y’understand it was simply kinda pissing me off. Y’know, it kinda pisses me off trigger all these technicalities and stuff.
And that second one (Securities and Trade Act violation), it’s from nineteen thirty one thing. It’s a regulation from the 19 thirties.
James causes that due to the Securities and Trade Act’s age, it shouldn’t apply to his promotion and profiting off of BitConnect.
[12:56] He stated um, uh, uh, um, “That is from the 19 thirties one thing.”
I’m like, “What yr is it?” That’s the very first thing that, what yr is it?
2019? So that you’re going off stuff from nineteen thirties? They didn’t even have web again then. Barely had telephones man, cmon now.
To be honest, the notion that securities regulation doesn’t apply to concurrency funding schemes is rife all through the MLM underbelly.
However that doesn’t change the regulation, particularly {that a} passive funding scheme is a safety, regardless of the automobile used to solicit funding (bitcoin on this case).
Because the video continues, James revels in the truth that, at the very least so far as the SEC investigation goes, he gained’t be going to jail.
Whereas that’s definitely true, take into account there’s additionally a parallel FBI investigation into BitConnect underway.
Given we all know even much less about that than the SEC’s investigation, whether or not James will in the end face jail time is up within the air.
[13:33] So mainly, the excellent news is I’m not going to jail. The SEC doesn’t ship folks to jail.
That’s the excellent news.
The unhealthy information?
Hey, you gotta give all that cash again, that you simply don’t even have.
So I gotta give all the pieces, I gotta both settle with them, or take it to a federal courtroom, proper?
And um, take it to a federal courtroom, and see in the event that they’ll vote to make me pay it… they’ll vote to sue me or let me go. Which I don’t count on them to simply let me go.
As to what James did with all of the bitcoin he stole by means of BitConnect, as beforehand talked about he purchased a home and land package deal, a BMW SUV and is trying to make investments one million into real-estate.
James provides he was hacked out of 121 bitcoin whereas BitConnect was operational;
[14:28] After which I gave all the bitcoin again, most of it again, as a result of I purchased BitConnect cash through the crash stay on air.
I gave all of it again (nervous laughter), proper? I gave all of it again.
James appears oblivious to the truth that the SEC is ready to go after his property, together with his cryptocurrency holdings.
[14:58] They need me to offer again all the pieces that confirmed on my dashboard for BitConnect.
So it was like, I don’t assume it was like two million, they stated two million.
Canine I ain’t obtained nowhere close to two million {dollars}. Y’all won’t ever get that shit. Y’all won’t ever get that.
So it’s like, what? I assume I settle and say, “Okay”. After which I don’t give, like I don’t have it. What you gonna do?
So, that’s mainly it.
James closes up by stating he hopes the SEC goes after anybody who promoted BitConnect on YouTube.
He additionally reveals the SEC has suggested him to cease making “crypto movies”.
On his second YouTube channel, “Dapp Trevon”, James continues to advertise varied cryptocurrency schemes.
I can’t say for positive nevertheless it’s trying like we would see some SEC BitConnect settlement by the tip of the yr. Keep tuned…
Replace eleventh March 2021 – Trevon James’ YouTube channel has been terminated.
Because of this I’ve needed to take away the hyperlink to the real-estate funding video referenced on this article.