BitConnect Promoter Trevon James Enters Default in Class-Action Suit
Failing to respond to the class action against BitConnect for which he was named defended, a default was entered against him.
On August 23rd the class plaintiffs listed a motion requesting an entry of default is recorded. An entry of default is the first step towards default judgment. The request is made to the Court Clerk, who records the entry of default. Once recorded, the filing party can then file for a motion of default judgment – which if granted is basically a loss judgment against the non-responsive defendant.
Following the filing, the Florida District Court clerk recorded an entry of default against James on August 24th. By ignoring the class-action lawsuit filed against him, Trevon James now risks a default judgment.
Recent videos uploaded by Trevor on his YouTube channel showcase James’ newly built house and BMW SUV. Assets that are believed to have been purchased with stolen BitConnect investor funds, and could be liquidated to satisfy default judgment should it come to that.
In a parallel storyline, James is a person of interest in an ongoing SEC investigation into BitConnect. For some of the remaining defendants, namely Glenn Arcaro, Ryan Hildreth, Ryan Maasen and YouTube, the case appears headed to mediation.
On August 29th a joint notice was filed advising the court that a mediator had been agreed upon. Pending approval by the court, the class plaintiff representatives and the defendants above are expected to enter into negotiation later.