Bitcoin Funding Team Gifting Scam Founder Accused of Promoting Scam, FTC Involved
Thomas Dluca Accused of Promoting Bitcoin Scams Risks Contempt in FTC Case
Thomas Dluca, one of the the four named defendants in a FTC filed lawsuit is accused of promoting a crypo pyramid scheme known as My7Network and being the founder of the Bitcoin Funding Team gifting scam.
As of today, Mr. Dluca was not able to comply with the granting of a TRO and preliminary injunction. In this case, the FTC has filed a motion that requests Dluca to be held in contempt.
The FTC explains that he failed to submit sworn financial and cryptocurrency disclosures, disclose salary/wages for his spouse, disclose the purchase price for two vehicles, product all requested bank statements for personal and business bank accounts, produce federal tax returns, product appraisals on real or personal property and more.
For example, the FTC explained that he couldn’t distribute a copy of the granted preliminary injunction to each of his downline and provide a sworn statement of compliance with all of the things mentioned before.
THe FTC communicated:
“Ultimately, should the Court agree that Defendant Dluca has violated the Preliminary Injunction as described in this Motion, Plaintiff will request that the Court enter an order requiring Defendant Dluca to take the following steps within five days of entry of the order or face sanctions by the Court.”
Dluca and fellow defendants known as Eric Pinkston and Scott Chandler, filed opposition to their having to liquidate held crypto assets. The main argument they have is that ‘cryptocurrencies will grow’ as it has done several times in the past.
They explain that the FTC does not have a good idea about Cryptocurrencies and that experts know that its price is going to raise in the future.
But the FTC explains that the argument about the future price of virtual currencies shouldn’t be relevant to the issue discussed here and at the moment. Indeed, the FTC did not stated or implied that it is skeptical about virtual currencies, but it explained that as the case will be solved in the short term, the volatility in the markets in the near future is relevant.