Trevon James has uploaded a new video discussing his part in the ongoing SEC investigation into BitConnect.

I’ve given up trying to ascertain whether James is parodying himself as a securities fraud suspect, so the following is reported “as is” with a straight face.

Trevon James Brown is a person of interest in an ongoing SEC investigation into the collapsed BitConnect Ponzi scheme.

Details of the SEC’s case have yet to be made public, so unfortunately we can’t provide you detailed case-specific information.

What we can tell you is last September James was subpoenaed to testify before the SEC. Last we heard James was prohibited from talking about his testimony, but that directive now seems to have gone out the window.

In an August 12th video uploaded to his YouTube channel, James reveals he was subpoenaed to testify before five SEC attorneys.

Despite stating he didn’t understand the advice he “seek counsel and all this stuff I don’t understand”, James is adamant he didn’t need an attorney.

Furthermore, despite driving around in a BMW SUV, buying land and building a house on it, and recently seeking advice on investing a million dollars into real-estate, James maintains he can’t afford a lawyer.

James claims his testimony came to an end after he was posed potentially incriminating questions and pleaded the fifth.

Later in the video James contemplates his role as a top promoter of BitConnect, and the legal ramification this brings with it.

[8:36] My mind state up until recently was, what I’m seeing online is, “you’re going to jail”, “you should go to hell”, “you’re a scammer” da-da-da.

So that kinda makes my … that pretty much forces a certain perspective that um, makes me have this perspective of myself that, well maybe I did something wrong, y’know?

Maybe I’m going to jail. Maybe I’m having all these bad thoughts because of people online.

And so up until recently that was my perspective.

But then recently I’ve just been like, well hold on a second. Why would I be in trouble for um promoting something that I didn’t create?

The person that should be held accountable is obviously the person that created this.

I can’t help that the (BitConnect) website was made available to me. The website shouldn’t have even been online.

The fact that someone made it (the website) available to me, should wipe away the guilt from me cause I didn’t create the thing.

Had James of spent some of his BitConnect fortune on a lawyer, they’d have no doubt informed him that promotion of unregistered securities is illegal.

Ignorant of how being a top promoter and net-winner in a multi-billion dollar Ponzi scheme makes him a person of interest in ongoing investigations, James expresses his dismay at receiving an email from the SEC “a few days ago”.

[10:12] A couple of days ago I got an email from the SEC again. They want me to call.

And I’m like, “for what?” Like, I want this to go away.

…I’m tired of hearing about shit man. I’m tired of hearing about it. It’s OLD.

Rather than wait James opted to speak with the SEC as soon as possible.

[11:40] I got the call today and they’re telling me that they are looking to press charges against me for three things.

Not surprisingly, those “three things”, according to James, are violations of the Securities and Exchange Act.

Laughing about the alleged violations as he reads them out, James quips the Securities and Exchange Act “is bullshit”.

[12:29] Basically the Exchange Act (violations) is I was selling securities.

And I said, “Hold on a second, I wasn’t doing that, the website was doing that.”

“Well no, you were acting as a broker.”

“Man I’m not no fucking broker man. Obviously I’m not a broker.”

Y’know it was just kinda pissing me off. Y’know, it kinda pisses me off cause all these technicalities and stuff.

And that second one (Securities and Exchange Act violation), it’s from nineteen thirty something. It’s a law from the nineteen thirties.

James reasons that because of the Securities and Exchange Act’s age, it shouldn’t apply to his promotion and profiting off of BitConnect.

[12:56] He said um, uh, uh, um, “This is from the nineteen thirties something.”

I’m like, “What year is it?” That’s the first thing that, what year is it?

2019? So you’re going off stuff from nineteen thirties? They didn’t even have internet back then. Barely had telephones man, cmon now.

To be fair, the notion that securities law doesn’t apply to concurrency investment schemes is rife throughout the MLM underbelly.

But that doesn’t change the law, namely that a passive investment scheme is a security, irrespective of the vehicle used to solicit investment (bitcoin in this case).

As the video continues, James revels in the fact that, at least as far as the SEC investigation goes, he won’t be going to jail.

While that is certainly true, keep in mind there’s also a parallel FBI investigation into BitConnect underway.

Given we know even less about that than the SEC’s investigation, whether James will ultimately face prison time is up in the air.

[13:33] So basically, the good news is I’m not going to jail. The SEC doesn’t send people to jail.

That’s the good news.

The bad news?

Hey, you gotta give all that money back, that you don’t even have.

So I gotta give everything, I gotta either settle with them, or take it to a federal court, right?

And um, take it to a federal court, and see if they’ll vote to make me pay it… they’ll vote to sue me or let me go. Which I don’t expect them to just let me go.

As to what James did with all the bitcoin he stole through BitConnect, as previously mentioned he bought a house and land package, a BMW SUV and is looking to invest a million into real-estate.

James adds he was hacked out of 121 bitcoin while BitConnect was operational;

[14:28] And then I gave all of the bitcoin back, most of it back, because I bought BitConnect coins during the crash live on air.

I gave it all back (nervous laughter), right? I gave it all back.

James seems oblivious to the fact that the SEC is able to go after his assets, including his cryptocurrency holdings.

[14:58] They want me to give back everything that showed on my dashboard for BitConnect.

So it was like, I don’t think it was like two million, they said two million.

Dog I ain’t got nowhere near two million dollars. Y’all will never get that shit. Y’all will never get that.

So it’s like, what? I guess I settle and say, “Okay”. And then I don’t give, like I don’t have it. What you gonna do?

So, that’s basically it.

James closes up by stating he hopes the SEC goes after anyone who promoted BitConnect on YouTube.

He also reveals the SEC has advised him to stop making “crypto videos”.

On his second YouTube channel, “Dapp Trevon”, James continues to promote various cryptocurrency schemes.

trevon james marketing crypto scams youtube

I can’t say for sure but it’s looking like we might see some SEC BitConnect settlement by the end of the year. Stay tuned…