The names behind the $ 100 million ICO have disappeared!

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News from the founding partners of Status Network, which raised $ 100 million in an ICO, is not heard. Furious investors are seeking help from the court.

Lawyers of Selendy & Gay PLLC and Roche Cyrulnik Freedman LLP firms sent a letter to the New York court on Monday stating that they made a very serious effort to find Status Network co-founders Jarrad Hope and Carl Bennetts.

According to the news in Decrypt, it was stated in the letter that the administrators of Status, a software development company that makes Web3 applications including a decentralized chat platform and web browser, were suspected of running away.

Investors submitted their first complaint about Hope and Bennetts in April. In the complaint, it was stated that the ICO, which was made in 2017 and collected 100 million dollars, was illegal because of the unregistered. The claimant stated that Status mislead investors by saying that the SNT token is an ‘utility token’, which does not comply with US Securities laws. It was reported that the investors wanted their money back and demanded the loss resulting from this situation as an extra.

It is noted that one of the founding partners, Hope, is responsible for sales and Bennetts is responsible for advertising and marketing. Investor lawyers demanded that the trial judge invite the unreachable pair to court.

The duo is actively using Twitte. Bennetts’ tweets are protected but show Switzerland as his location.

They even hired a private detective

The plaintiff’s lawyers, despite looking at many private files, social media posts, and corporate records, did not get a clue about where the two were. Even a private detective was hired to find Hope and Bennetts, but the plaintiff could not put the defendant’s address clearly in the file.

In fact, investors don’t even know where Status operates. The company is registered in Zug, Switzerland, but it is not known whether there is an office or even the people working there.

The spokesperson of the company refuses to comment on the issue or provide information about whether it speaks to the founding partners.


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