31 Jul '14, 8pm

Bitcoin-to-Gold Service Faces Class Action Over Alleged Fraud

Bitcoin-to-Gold Service Faces Class Action Over Alleged Fraud

Bitcoin-to-gold website Coinabul LLC is facing a serious federal class action alleging that it defrauded some of its clients. The leading plaintiff is Yazan Hussein, who claims he transferred 1,644.54 BTC to Coinabul last year, but did not receive the gold he ordered. The federal complaint was filed in Illinois on 25th July. It names Coinabul and its CEO Jason Shore as defendants. Hussein demands a jury trial. Hussein turned to Edelson law for representation, the same firm heading the Mt. Gox class action in the US. Chris Dore , a partner at the firm, told CoinDesk that Hussein reached out to the company after trying to resolve the Coinabul dispute for close to a year. Dore explains: “Once we were contacted by our client, we looked into it and this problem [is] widespread. There are countless complaints of people having the same experience where suddenly they stopped respo...

Full article: http://www.coindesk.com/bitcoin-gold-service-faces-class-...

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