Note: This post reproduces information contained via publicly available documents. All quoted sections are taken straight from these documents and do not constitute an editorial opinion by the authors of this post. This publication is not an endorsement of any allegations on either side of the lawsuit. Published for the general public interest, as part of our mission to document the history and technology of cryptocurrencies.
In late 2018, law firm Silver Miller announced a lawsuit against Coin Signals, a trading company run by Jeremy Spence et al.
Link to court documents: Case Docket Number 1:18-CV-12218
Despite Coin Signals along with several other defendants being named in the lawsuit, the overall case ended up being popularly known as “the Jeremy Spence lawsuit”.
Jeremy Spence, Jaime Cruz-Herrera, an avatar by the name of BlackXantus, Gerard Spence and Emily Spence were sued by plaintiffs Manfred Lagemann, Steven Koenig, Mitch Sterckx, Aivaras Cepelis, Roland Mawlabaux, Cameron Pattison, Thi Thanh Xuan Diana Vu, Edmond Truong, Vitaliy Rudenko and Yew Hwee Ng at the US District Court of the Southern District of New York on December 26, 2018.
The object of the lawsuit was to “recover damages incurred by plaintiffs as well as to obtain equitable relief related to the harm Plaintiffs have suffered”.
According to the lawsuit, an avatar who went by pseudonym BlackXantus managed a “computer program” behind Coin Signals which supposedly allocated funds within Coin Signals’ hedge funds.
According to the Plaintiffs, CSM Fund employed false and misleading representations which caused economic loss to plaintiffs and accuses Jeremy Spence of being a “con man” who “operated a classic Ponzi scheme”.
As of August 2020, the case is still ongoing.
Lawsuit Status can be checked here.
Silver Miller Law firm is registered at :
11780 W. Sample Road
Coral Springs, Florida 33065
(954) 516-6000
Silver Miller is a Business and Investment Fraud Contingency-Fee Law Firm with offices in Florida, Maryland and Washington DC.
Specialized in business litigation, investment fraud, digital investments including cryptocurrency, class action, whistleblower claims, labor and employment law among other.
Official Silver Miller Website
Silver Miller Files Lawsuit Against Jeremy Spence for Coin Signals Cryptocurrency Fund Fraud
Timeline of the CoinSignals Scam
Silver Miller Files Lawsuit Against Creator of Alleged Crypto Ponzi Scheme