Dear Clients,

While we await news regarding this case we continue to publish parts of the indictment. It illustrates how irresponsible individuals abuse people’s trust and carefully devise fraudulent projects. This results in even highly educated individuals in the field of Crypto becoming victims of cunning fraudsters.

Below is a part of the indictment:

So if you invest in a gold mining operation, you’re not gonna go start digging holes, the gold miners dig up the gold, they just give you your gold every single day. This is the same kind of thing. So, if you put that same 3,599 in to mining with us, I think three years from now, you could end up with between anywhere from 15, and I’m gonna be very conservative here, 15 to 25 bitcoin. I think it could be a lot higher than this but I’m just gonna call it 15 to 25 bitcoin. If we’re right and you end up getting between 15 to 25 bitcoin over the next three years. You’re talking about if the price is at 10,000, that’s between 150 and 250,000 dollars for a 3,599 dollar investment.

So a portion of everybody’s bitcoin that you’re mining, has to go back in to help buying new equipment so uh pool one 50 percent minimum has to go back in, pool two, 40 percent, pool three, 30 percent. What does that mean? That means that you’re gonna end up having more and more and more shares in all of the pools. So, even though you get started and you end up using your days, it doesn’t matter ‘cuz you’re gonna end up having shares that still have a thousand days attached to them. So, this is pay one time, but get paid forever, and ever, and ever, and ever. You’re never going to run out of shares. And, if you do refer other people every time that they make a repurchase, you’re getting paid again, and again, and again, and again on all of those people. That’s what’s just beautiful about all of this.

j. In or around March 2017, ABEL traveled to New Jersey to promote the sale of shares in BCN.

k. In or around August 2017, ABEL prepared a video that was posted on the Internet in which ABEL promoted the sale of shares in BCN and represented, among other things:

What we have done is create a very unique window of opportunity for our members urn here in America and around the world urn, we no longer service the United States, as she told you that, and she’ll explain to you guys how to get around that whole process to keep yourself 100% legit.

  1. In or around October 2017, WEEKS traveled to Florida to promote the sale of shares in BCN.

m. In or around January 2018, ABEL participated in a recorded Internet video session, in which ABEL instructed U.S.-based investors how to use a VPN to access BCN’s websites.

n. In or around March 2018, ABEL prepared a video and caused it to be posted on the Internet, promoting BCN, in which ABEL stated, “we are, what they call in the bitcoin network, too big to fail so important that you understand that. We’re too big to fail.”

o. In or around March 2018, MEDLIN emailed ABEL an article addressing U.S. securities regulation. The article stated, among other things:

In my almost ten years of covering the industry, I’ve come to realize that if an MLM company tries to convince you they’re not selling securities — then they probably are.

That’s because the securities law with respect to MLM investment opportunities is pretty clear-cut: MLM
+ passive Rol = security.

All in violation of Title 18, United States Code, Section 371.

To be continued…….

Zoran Miljakovic
Attorney at law