Trevon James confirms South Carolina BitConnect investigation
`In a video titled “My court date is March 16th 2018”, Trevon James has confirmed a BitConnect government investigation and lawsuit.
According to James on or around Saturday March 2nd he was served a subpoena compelling him to testify.
The nature of the lawsuit is unclear but James (right) claims he’s been called “to testify before the Securities Division”.
The subpoena itself was issued by the Office of the South Carolina Attorney General, Securities Division.
Whether the investigation extends to a federal level is at this stage unclear.
Despite promoting the BitConnect Ponzi scheme and stealing a ton of money through it, James maintains his innocence.
[3:55] I feel pretty innocent. I know I didn’t do anything wrong.
But what’s not wrong to me might be wrong in the eye of the government.
This suggests the Securities Division investigation might name James as a defendant, as opposed to being called to testify against BitConnect.
Craig Grant, a fellow top BitConnect promoter recently claimed James was directly under BitConnect’s top US promoter, Glenn Arcaro.
Grant claimed this position was making James a ton of money in overrides on investment by anyone below him.
In a recent video that has since been deleted, James boasted he’d “beaten the system” and was “set for life”.
In a video uploaded earlier today, Craig Grant claimed James had tried to call him from a lawyer’s office.
Rather than answer Grant states he turned his phone off.
Grant is believed to be hiding from authorities. Whether he’s a a person of interest in the South Carolina Securities Division’s investigation is unclear.
Despite having already been in contact with a lawyer (according to Grant), in his sixteen minute YouTube video James shows an astonishing lack of understanding of US securities law.
James believes having two children and promoting BitConnect in an “entertaining” manner will see a Judge rule in his favor.
[6:40] My ignorance, y’know I’m kinda disappointed in my ignorance of what BitConnect is as far as securities and stuff go.
Like I don’t know anything, I still don’t know what a security is.
I don’t really care enough (to) know what a security is.
Despite claiming to not know what a security is, in the next breath James insists he “wasn’t selling securities”.
Trevon goes on to fall back on his instance that he’s not a financial adviser.
That promoting unregistered securities has nothing to do with being a financial adviser or not, is something James doesn’t seem to grasp.
Update 20th March 2018 – In a March 18th video titled “What’s next for Trevon James?”, James claims his March 16th hearing was postponed.
A new date has apparently been scheduled however this time James isn’t disclosing the date.
I imagine this is because typically when subpoenaed to testify in an ongoing sealed investigation, you’re not permitted to reveal to the public details of the case.