In a considerably shocking transfer, Vista Community has filed a Californian lawsuit in opposition to defendants Phillip Piccolo, Kevin Dalton Johnson, Paul Morris, Joseph Reid and the corporate Travelada.
Vista Community is accusing the defendants of “fraudulent and legal misconduct”.
Vista Community surfaced in late 2017 and is headed up by CEO Armen Temurian.
The corporate’s lawsuit is unusual, as Vista Community launched as an 80 day ethereum doubler Ponzi.
In accordance with Temurian, by January 2018 Vista Community had ceased working its Ponzi doubler.
As per Temurian’s linked remark above, following termination of the doubler Vista Community rebooted as a cryptocurrency mining alternative (mining pool).
{Hardware} mining was connected to the cloud mining alternative for pseudo-compliance. Non publicly tradeable VistaCoin and AlexaCoin altcoins have been additionally added sooner or later.
In the meantime at no time did Vista Community or Temurian register with the SEC, which means at greatest the MLM alternative was an unlawful unregistered securities providing.
Replace nineteenth November 2018 – Following publication of this text Armen Temurian has been in contact to assert at no level Vista Community operated as a Ponzi scheme.
The primary run of Vista was not a Ponzi we invested and returned on funding actually, solely with out a license. Then we stopped in late December 2017 buying and selling with out a licence.
We by no means did MLM or paid multi level marketing comp plans whereas buying and selling and returning with out a license.
We profited over 3 million {dollars} doing this, we have been additionally luck as a result of we traded brief medium and long run holding patterns whereas BTC went from $1000 to $20,000.
WE WERE NEVER A Ponzi and we are able to show that. We’ll by no means be a PONZI sir.
Additionally OZ simply so you realize we’ll file with the SEC our first paperwork by January 31 2019 as we carry our VistaCoin and AlexaCoins onto the blockchain and onto our first trade itemizing on DutyFly.
/finish replace
Of their November ninth grievance, Temurian alleges Piccolo, Johnson, and Morris have been employed to develop Vista Community’s affiliate backoffice.
The grievance refers to Piccolo, Johnson and Morris because the “PJM Defendants”, and alleges
As soon as the PJM Defendants gained entry to Vista’s confidential commerce secret paperwork and cryptocurrency accounts beneath the pretense that they have been appearing as software program builders, they surreptitiously got down to defraud Vista, misappropriate its commerce secrets and techniques, and steal its belongings.
Joseph Reid is cited as having launched Temurian to the PJM Defendants.
In recommending the PJM Defendants, Reid purposefully misled Plaintiffs concerning the PJM Defendants’ {qualifications} to construct the Again Workplace software program suite and failed to tell Plaintiffs of quite a few situations of prior allegations of fraudulent habits made in opposition to Defendant Piccolo.
Temurian claims the PJM Defendants stole “practically $700,000” in cryptocurrency that had been invested into Vista Community.
Then they used the software program Vista employed them to construct in an effort to create pretend commissions on Vista product gross sales.
Lastly, the PJM Defendants deleted transport orders for over $10,000.00 in Vista merchandise, shipped Vista merchandise to unknown entities, and cancelled different orders in an effort to take buyer funds as their very own.
Following their misappropriation, fraud, and theft, the PJM Defendants then disabled Plaintiffs’ software program entry, leaving Vista with out the flexibility to make use of its personal confidential and proprietary data, or to succeed in its buyer base.
After that Travelada was “deployed”, and utilized by the PJM Defendants to
take Vista’s information and buyer lists, create plenty of deceptive e mail addresses incorporating Vista’s commerce title, and fraudulently solicit Vista’s clients by mass emails.
Each Travelada and Vista Community’s respective Alexa ranks are in sharp decline, which I suppose prompted;
Most not too long ago, Piccolo and Johnson have resorted to extortion by threatening to completely delete the software program suite that Vista employed them to construct together with all of Vista’s commerce secret information until they’re paid massive sums of cash.
Two days after submitting their grievance, Temurian and Vista Community filed for a TRO and preliminary injunction.
The day after the movement was filed it was denied, on the premise
defendants haven’t but been served (and) the Movement fails to adjust to the necessities of Rule 65(b)(1) of the Federal Guidelines of Civil Process.
Rule 65(b)(1) limits the granting of a TRO with out discover until speedy and irreparable harm, loss, or harm might be proved. Or within the various efforts to provide discover have been made and an evidence offered as to why they discover isn’t required.
In an e mail to BehindMLM Temurian advises solely Phil Piccolo stays to be served.
I’ve added Vista Community’s lawsuit to our listing of tracked instances, so keep tuned for updates as we obtain them.
Replace nineteenth December 2018 – On December seventeenth a movement to dismiss was filed by Phil Piccolo and the defendants;
The Courtroom will in the end acknowledge the Criticism for what it’s – a determined try by Plaintiffs to shift an ever-increasing focus away from Plaintiffs and their operation of a legal Ponzi scheme that resulted within the lack of tens of millions of {dollars} by Plaintiffs’ clients.
For now, nevertheless, the Courtroom ought to dismiss the claims mentioned under in order that Defendants can proceed with submitting their counterclaim and exposing Plaintiffs for the rip-off artists that they turned out to be.
A call on the movement is pending.
Replace fifth February 2019 – Following the courtroom’s appointment of a mediator on February 4th, Vista Community’s lawsuit is heading to mediation.
Replace twenty first February 2019 – As per a February seventh order, mediation within the Vista Community case should happen earlier than October 14th, 2019.
A mediation listening to has been scheduled for October tenth.
Replace twenty third April 2019 – A number of counts have been dismissed from Vista Community’s first amended grievance.
The corporate has been given till April twenty ninth to file a second amended grievance.
Replace seventeenth September 2019 – Defendants Phillip Piccolo, Kevin Johnson, Joseph Reid and Paul Morris have filed a solution to the lawsuit.
Accompanying the reply is a counterclaim, leveling a number of counts in opposition to Armen Temurian.
Replace eighth Could 2020 – Vista Community’s lawsuit was voluntarily dismissed by Armen Temurian. As of Could 1st the case is closed.