Jacob Kostecki, the organizer behind the ‘Massive Adoption’ crypto conference, is at the receiving end of a class-action lawsuit from over 2,000 people.
The lawsuit has been levied due to those who bought a tickets to one of his events, but never got a refund, even when the event was canceled by Kostecki himself. The lawsuit aims to recover $75,000 in damages.
The filed complaint claimed that Kostecki advertised the crypto-conference from February 27 to 28th in Memphis, Tennessee, and sold a large number of tickets, along with hotel and airfare packages at considerably lower prices. In total, Kostecki collected about $75,000 from these sales.
However, Kotecki canceled the event on January 31st (original scheduled for November 2019) citing cash issues, while promising to pay back everyone who bought tickets. But none of these customers who paid for the event received any refund, even after a couple of months raising the suspicion.
David Silver, a crypto attorney, filed the class-action lawsuit against the organizer in a Colorado District court this Thursday.
Silver said that the case came to his notice when he saw Kostecki taking advantage of people who could not afford legal representation. Silver took to Twitter and warned Kostecki to return what he owes to people otherwise he would be served with a lawsuit.
1 This is an unusual circumstance – @jacobkostecki has already admitted the material facts:
— David Silver (SILVER MILLER) (@dcsilver) April 20, 2020
Ashley Gentry, of San Dimas who is the lead plaintiff in the case, revealed that the event was scheduled for November and was later postponed to February before being canceled.
The event promised to host 2,000 attendees, along with 60 speakers. Gentry bought a complete package costing $794 for herself, her husband, and one other person back in December.
Silver said that people should be aware and never take hollow twitter promises for granted. He explained:
“We seek damages in excess of $75,000,” the attorney said, which includes the money people lost, interest, other costs, and attorney fees. Typically in a class-action, a law firm only collects fees if it recovers money but according to Silver, who is doing the work pro-bono, “even if we collect attorney’s fees, we will give it back to the victims.”