Trevon James Subpoenaed By SEC
After reports stated that YouTube has been appointed as a defendant as part of a lawsuit filed against Bitconnect, Trevon James, a YouTube influencer has also been subpoenaed as a testifying attendant in front of the SEC. Prosecutor David Silver has also said that YouTube had not lived up to the required and promised protection of users and has granted several iconic streamers and figures on the media-giant platform to advertise Bitconnect on their channels and videos.
Trevor James reported his subpoena through his Twitter account, stating that he would be required to testify in front of the US Securities and Exchange Commission. According to him, the financial watchdog had contacted James and for the calling. The influencer also expressed optimism and joy, claiming that this was his chance to tell his side of the events regarding Bitconnect.
Another video by Bitcoin Tre saw him stressing on the fact that all developers adamant on keep Bitconnect alive and advancing its position should come together, reinforcing his complete belief that the company will continue and rise and stating his on-going investment in it. Bitconnect saw a crackdown on its operations at the beginning of 2018 after an official order to cease all operations related to crypto was enforced under allegations of selling illegal securities.
Following warnings by financial watchdogs in Texas and NC, the company then stated that it would shut down its lending service and any digital currency exchanging would be temporarily paused until further notice. Bitconnect’s native token, the BCC, took a heavy blow downwards of just over 80 percent after the events and dragged it from its previous peak of $437 down to a mere $30 press time.
Trevor James testifying in front of the SEC will most likely factor towards the end result. Prosecutor David Silver has also highlighted two sections within the Securities Act and filed several other accusations with involved members including Albert Parks and others. Additionally, Calen Powell, also known as Crypto Clover and a longtime advertiser of the company was arrested by the FBI after returning to the United States under connections with the company.
No official statements regarding Clover being in touch with the US financial watchdog have been released and the SEC has not published any related information so far.