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Lawsuits against Pavel Durov

FXcoins - Lawsuits against Pavel Durov

Vladimir Smerkis, who is the head of Tokenbox, pointed out that most investors of ICO Telegram are going to sue the founder of the project Pavel Durov. The reason for this behavior on the part of the participants is that their losses will exceed 28%, as many of them used the services of dealing centers and funds.

 

Smerkis notes - "There is a large proportion of investors who are inclined to sue Mr. Durov because almost $500 million has been spent, which is 28% of the $1.7 billion raised for the project and the investors receive nothing in return. They only get a return of 72%... Do not forget that many investors have used the help of various brokers and funds, which also eat some commission, and as a result some investors will remain at the exit of about 63%".

 

He does not rule out the possibility that the Telegram team will be forced to make concessions to investors and overestimate the options for payment of funds. A small share of ICO Telegram participants is still inclined to sign a loan agreement with subsequent repayment, which the company offered them earlier.

 

"A minimum number of people are inclined to sign a loan agreement and lend money to the company because, first of all, they are not secured by anything but the good name of Paul Durov. That is, it is not a question of converting this debt into shares, for example, of Telegram, in case the debt is not repaid," said one of the investors of TON.

 

Founder of Qiwi Sergei Solonin previously invested about $17 million in TON, after which he called the blockcheck project a complete failure. He stressed that he believes the proposal to investors is adequate, while the question of Gram is not hopeless.

 

We would like to remind you that last night, May 12, 2020, Pavel Durov announced to all Telegram users and the world community that he would stop working on the block-platform Telegram Open Network. The main reason for closing the project is the decision of the American court, as on April 1, a federal judge of the Southern District of New York Kevin Castel confirmed the ban on the release of new Gram cryptographic software. For his part, Castel stressed that the security is not an agreement to buy altocoin or the coin itself, but the entire scheme, which includes the company's activities and investors' expectations of selling the asset on the secondary market.

 

Durov himself pointed out that "the court decision implies that other countries have no sovereignty to decide what is good and what is bad for their own citizens. If the U.S. suddenly decided to ban coffee and demanded that coffee shops in Italy be shut down because some American might go there - we doubt that anyone would agree. And yet, despite that, we made a difficult decision not to continue working on TON. I am writing this post to officially announce that Telegram's active participation in TON is over. You may find - or have seen - sites using my name, the Telegram brand or the acronym "TON" to promote your projects. Do not trust them with your money or data. No one present or former member of our team is involved in any of these projects. While networks based on the technology we created for TON may appear, we will have nothing to do with them and are unlikely to ever support them.

13 May 2020

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