When I checked the various BitConnect lawsuit case dockets a few days ago, other than a preliminary injunction granted against Ryan Maasen, there wasn’t anything significant to report on.

Behind the scenes though, BitConnect’s biggest promoters appear to be preparing for the worst.

Tracking the activity of BitConnect’s top US investors has proven challenging, owing to the mass-deletion of evidence.

Under the pretext of having nothing to worry about, Craig Grant and Trevon James were the only two investors who continued to front their victims.

Over the past week that sentiment has changed, following the deletion of anything BitConnect related from both Grant and James’ respective YouTube channels.

Whereas Trevon James has fallen silent as of three days ago, Craig Grant has continued to communicate through the YouTube platform.

In a series of increasingly disjointed videos, Grant recently revealed in 2008 he was committed to a mental asylum in Jamaica.

Following release he moved to the US and is believed to have worked a jumping castle business out of his car.

There is also documented evidence of Grant cooperating with Nigerian scammers, who used photos of his partner as catfish bait.

In a video uploaded a few hours ago, Grant sits poolside in a pair of Versace sunglasses “watching people have fun”.

Casually sipping on a beer, Grant reveals the prospect of going to prison for scamming people in BitConnect has been weighing heavily on his mind.

[00:50] Based on all the comments I’ve been deleting, I can’t help but think that I’m facing jail time.

Even though it’s just comments on a YouTube channel, you can’t help but think about that.

So what am I gonna do?

I’m just gonna… if that’s true I’m just gonna spend whatever time I’ve got out in the world doing what I do. Just… nothing.

One day, the authorities will show up and say, “Hey Mr. Grant, it’s time for you to go.”

I can see myself with a public defender, y’know.

Well maybe if I did need an attorney, an attorney, a really good one will volunteer. Y’know cuz it’s a…. maybe the story will be so hyped that I’ll get a good attorney for free, right?

I’m just saying these things cuz they’re on my mind man.

Later in the video Grant reveals Trevon “BitConnect victims are crybabies” James, has lawyered up.

[07:30] After I uploaded my video today, Trevon texted me from a lawyer’s office.

I didn’t respond, y’know?

And then he tried to FaceTime me, and I turned the phone off man.

I like Trevon y’know but I’m not into… I don’t want to be afraid, I don’t want to be scared man.

And if he’s at a lawyer’s office, any conversation he has with me most likely is going to be something I don’t want to hear.

Both Grant and James are believed to be on the run since BitConnect’s collapse in early January.

How much in stolen investor funds they are sitting on is unclear.

Throughout the course of promoting BitConnect however, Grant inadvertently revealed one of his bitcoin wallet addresses.

To date over 300 bitcoin has been transferred through the wallet, which even after bitcoin’s fall from $20,000 earlier this year is still today worth almost $3.5 million USD.

I suspect much of Grant and James false bravado rests on the belief what they’ve stashed away is untouchable.

I won’t be revealing how much money I have anymore or how much crypto I have anymore.

…

I know I’ll be alright though, as far as living a decent life.

If I don’t end up in court I’ll be alright y’know? I should be alright.

Meanwhile what Trevon James was doing in a lawyer’s office, at least for now, remains a mystery.

Both James and Grant are named defendants in three separate class-action lawsuits filed by BitConnect victims.

In his now deleted YouTube videos, James had previously downplayed the significance of the lawsuits and stated he didn’t need an attorney because he’d done nothing wrong.

Meanwhile on the regulatory front, it has been revealed that over the past few weeks the SEC has been sending out subpoenas ‘to dozens of tech companies and individuals who are involved in cryptocurrency‘.

The targets of the subpoenas include companies that have launched initial coin offerings (ICOs), the cryptocurrency equivalent of IPOs, as well as their lawyers and advisers.

The subpoenas reportedly include requests for information on how ICO sales and pre-sales are structured.

Whether BitConnect is part of the SEC’s ongoing investigations into cryptocurrency related securities fraud remains to be seen.

 

Update 4th March 2018 – Trevon James has confirmed he’s received a subpoena to testify before the South Carolina Office of the Attorney General, Securities Division.