Bitcoin Latinum neither had a relationship with nor received any investment from the plaintiffs.” “It is the official stance of Bitcoin Latinum that the accusations are without merit. Poker pro Brandon Cantu, a good friend of Hellmuth, is also affiliated with Bitcoin Latinum and attended a launch party for the coin last September along with Hellmuth.Īlso in attendance were MMA stars Jorge Masvidal, Paige VanZant, and Anthony Pettis, as well as “Wall Street leaders, crypto whales, several founders of the top cryptocurrencies, and over 40 leading Instagram model influencers.” Bitcoin Latinum promise $1billion per person Countersuitīitcoin Latinum released a press statement on Friday, vowing to sue everyone connected to the lawsuit for “not less than $1billion each for reputational and punitive damages”. Phil Hellmuth is listed as an “angel investor” in the cryptocurrency, and described the reasons for his involvement as being “ because I believe the company will make it easier for crypto to be used by everyone on an everyday basis.” I’m a paid endorser of Bitcoin Latinum, and this is NOT investment advice: įounded in 2014 by Don Basile and based on the Bitcoin ecosystem, Bitcoin Latinum is described as “a next-generation Bitcoin hard-fork capable of massive transaction volume, digital asset management, cybersecurity, and transaction capacity.” Last year saw 16-time WSOP bracelet winner Hellmuth sporting the Bitcoin Latinum logo throughout his WSOP appearances, having previously tweeted that he was a paid endorser of the cryptocurrency… That might explain his connection to Phil Hellmuthand Hellmuth’s close friend, Brandon Cantu, both of whom have been involved with Bitcoin Latinum. Kevin Jonna, the main defendant along with the Bitcoin Latinum company itself, has a Hendon Mob listin g with almost $350,000 in tournaments earnings, including a WPT LA Poker Classic High Roller win in 2014 worth $ 262,840. Simon Jonna invested a total of $240,000, Raymond Jonna $200,000, and Farid Jamardov just over $100,000.Īll three claim that they have received neither Bitcoin Latinum Tokens as promised, nor their investment money back, as allegedly promised by Kevin Jonna. ![]() Those alleged victims are named as Raymond Jonna, Simon Jonna, and Farid Jamardov, the first two reportedly cousins of Kevin Jonna. The 40-page lawsuit filed in Michigan alleges that Kevin Jonna and Bitcoin Latinum “diverted and misappropriated investment funds for personal use while committing securities and wire fraud in their offer and purported sale of Bitcoin Latinum tokens to their victims…” Bitcoin Latinum, a cryptocurrency endorsed by Phil Hellmuth, has found itself at the centre of a lawsuit, with allegations of securities fraud and misappropriation of funds aimed at one of its executives.
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