Topic: BUTTERFLY LABS THIEVERY: THEY TAKE YOUR MONEY BUT YOU WILL NOT GET BTCs SOON! :(

[devnullius]

Documents and Resources:  Class Action Complaint Against BF Labs, Inc.

http://www.woodlaw.com/sites/default/files/casedocs/2014-04-04%20Complaint.pdf

Private MIRROR: https://drive.google.com/file/d/0BzlT4wpwijZqbDQwd1hHS1dEMTg/edit?usp=sharing

[Samker]

...

PS: do notice the BFL owners bought themselves private homes and cars from MY money While mining BTC with MY equipment!

Soon...

[devnullius]

Documents and Resources:  Class Action Complaint Against BF Labs, Inc.

http://www.woodlaw.com/sites/default/files/casedocs/2014-04-04%20Complaint.pdf

Private MIRROR: https://drive.google.com/file/d/0BzlT4wpwijZqbDQwd1hHS1dEMTg/edit?usp=sharing

UPDATE

Thank you for contacting our firm. If you have provided your documentation, thank you! If not, your documents and correspondence could be very helpful for the case. I am putting together the information regarding the specifics of everyone's orders and the related documents. If you would like to submit your information (emails to/from Butterfly Labs, screen shots of Butterfly Labs' website and your dashboard or any other information you believe might be helpful), you can do email it to me, fax to (816) 337-4243 or send by snail mail to:

Wood Law Firm, LLC
1100 Main Street, Suite 1800
Kansas City, MO 64105

Right now the lawsuit is in its early stages and has not yet been certified as a class action. After the class is certified as a class action, everybody who fits the class definition will automatically be a participant in the lawsuit. Until it is certified as a class action, we are trying to gather as much information as we can from everyone who did business with ButterflyLabs.

We will attempt to update our case/investigation page (at http://www.woodlaw.com/cases/butterfly-labs-and-bf-labs-inc-bitcoin-miners ) with any developments as soon as they happen, but feel free to e-mail me anytime with any questions.

Thanks!

[devnullius]

US CFPB Now Accepting Complaints Against Bitcoin Businesses

Keep up to date here: https://twitter.com/butterflyripoff

LOVE them XD

What's the real financial picture  http://www.butterflylabscomplaints.com/blog-post/2014/8/17/whats-the-real-financial-picture …  http://www.butterflylabscomplaints.com/blog-post/2014/8/17/whats-the-real-financial-picture …

The balls on @ButterflyLabs @butterfto ask for 80k to upgrade an order they have not shipped. How do they put pants on with balls that size!

its time 4 @ButterflyLabs @BFL_josh To PAY! US CFPB Now Accepting Complaints Against Bitcoin Businesses http://coinde.sk/1mD6T2Y  via @coindesk

#Bitcoin #News: Butterfly Labs anonymously buy http://Buttcoin.org  to remove “scam article” http://bit.ly/W52IXt "
We won't do that!!

@Vocativ has a profile on Butterfly Labs, getting sued by customers for shopping Bitcoin mining rigs late.  http://buff.ly/1nIRwHE

Bitcoin: Bitcoins Most Controversial Startup--An Inside Look at Butterfly Labs - http://cryptogeeks.com/bitcoin-bitcoins-most-controversial-startup-inside-look-butterfly-labs …

Bitcoin startup Butterfly Labs faces hundreds of complaints over long delays. https://www.inside.com/bitcoin/u3mbq/bitcoin-startup-butterfly-labs-faces-hundreds-of?utm_source=twitter.com&utm_medium=twitterhandle&utm_campaign=@InsideBitcoins1 … #bitcoin

I went Kansas to write about @ButterflyLabs, a Bitcoin mining startup that's facing down a series of lawsuits. http://www.vocativ.com/tech/bitcoin/butterfly-labs-bitcoins-innovative-controversial-startup/ …


STILL... WAR!

Devvie

[devnullius]

#ButterflyLabs is the target of a Federal Trade Commission civil lawsuit!!


FROM: http://newsbtc.com/2014/09/23/butterfly-labs-issues-statement-regarding-ftc-complaint/

Earlier today, it was reported that Butterfly Labs was the target of a Federal Trade Commission civil lawsuit, which alleged the company has conducted fraudulent and deceptive business with customers — many of whom are in the United States.

The Federal Trade Commission effectively has put a halt on the Kansas-based company’s operations — freezing assets and forcing an injunction that has brought the assembly line to a grinding halt.

And Butterfly Labs isn’t taking kindly to the actions.

In a lengthy statement issued by the company’s spokesperson, Butterfly Labs suggests the Federal Trade Commission is “going to war with bitcoin” and they’re starting by taking out Butterfly Labs. It’s an interesting perspective, but one many would disagree with.

Here’s the full, unabridged statement issued Tuesday evening:

Butterfly Labs is disappointed in the heavy-handed actions of the Federal Trade Commission. In a rush to judgment, the FTC has acted as judge, jury and executioner, contrary to our intended system of governmental checks and balances. The FTC’s current actions are negatively impacting our thousands of customers and our dozens of employees. Their current media campaign should only further alarm a knowing citizenry and raise questions as to why the FTC wouldn’t simply let this case play out through the judicial system. That is what Butterfly Labs intends to do.

It appears the FTC has decided to go to war on bitcoin overall, and is starting with Butterfly Labs. Butterfly Labs is being portrayed by the FTC as a bogus and fake company. To the contrary, Butterfly Labs is very real. As pointed out in court filings Butterfly Labs made last night, Butterfly Labs has shipped more than $33 million in products to customers and voluntarily granted refunds approximating $17 million to customers for cancelled orders. Butterfly Labs was literally is in the midst of shipping out completed products to fulfill the remaining millions of dollars of orders on our books and issuing requested refunds, when the FTC effectively closed the doors of Butterfly Labs without any chance to be heard in court.

At this time, Butterfly Labs is cooperating fully with the Temporary Receiver appointed by the Court. A hearing is set for September 29 and Butterfly Labs has asked the Court to allow it to present testimony from key witnesses for the company. Butterfly Labs intends to defend our business and our nascent and promising industry. The government wants to shut Butterfly Labs down, and we are not going away without a fight to vindicate bitcoin, our company, and our employees. Our continued focus is our customers and finding a way to continue to deliver products and processing refunds for those who have requested them.

Many in the community have felt that Butterfly Labs has continuously failed to meet expectations, though the company has been working to repair their tarnished image.

Its future, however, is uncertain.

As noted in the statement, the company will be taking advantage of a hearing later this month to clear their name. More developments on this front as they become available.


(end of article)

The nerve of those people... I hope they lose EVERYTHING and will go to JAIL for at least a decade. ALL of them! I can't stand the face of that c4nt Judy no more...!

BURN!

Devvie

PS: anyone knows if non-USA members stand a chance? ;p

[devnullius]

FROM: http://www.coindesk.com/ftc-granted-approval-sell-butterfly-labs-bitcoin/?__scoop_post=72c0b4a0-645f-11e4-d85d-90b11c3d2b20&__scoop_topic=3184068#__scoop_post=72c0b4a0-645f-11e4-d85d-90b11c3d2b20&__scoop_topic=3184068

Take this BFL! Next step: PRISON for the lot of ya'

FTC Granted Approval to Sell Off Butterfly Labs’ Bitcoins

Pete Rizzo (@pete_rizzo_) | Published on November 4, 2014 at 17:06 GMT

The Federal Trade Commission (FTC) has secured the authority to begin converting Butterfly Labs’ bitcoin holdings into cash reserves.

The motion was granted by the US District Court for the Western District of Missouri on 29th October and marks the latest update in the case that began when the FTC filed a lawsuit against the company for fraud and misrepresentation this September.

At the time, Butterfly Labs was closed pending trial, although it has resumed limited business operations under court receivership. The designation means that a court-appointed receiver has been in control of the business, and that this individual will now be able to “manage and administer” the company’s finances.

The latest filing suggests that the receiver will seek to cover potential refund liabilities the company may incur by liquidating the company's bitcoin assets.

The full court filing reads:

“The stipulated interim order requires all parties to cooperate in transferring receivership defendant’s bitcoins to a court-controlled bitcoin wallet, under the direction and supervision of temporary receiver.”

The FTC receiver may now hire independent professionals or contractors to ensure the safe transfer of the company’s bitcoins to the court-controlled wallet.

The agency responded to requests for comment, but declined to elaborate further on its latest proceedings in the case.

Managing bitcoin assets

Although a largely procedural update in the ongoing case, the motion may be notable due to the fact that Butterfly Labs is likely to have carried out substantial portions of its business operations in bitcoin.

Butterfly Labs is alleged to have generated bitcoins by conducted extending testing of the bitcoin mining machines it manufactured before delivering the units to consumers, while former employees have been accused of profiting by using products returned by customers for personal use.

An early market leader, Butterfly Labs supported the bitcoin ecosystem through partnerships, and accepted bitcoin as payment for its bitcoin miners – even selecting emerging bitcoin startup BitPay as its exclusive online payment processor for sales of its then-new ASIC miners in 2012.

Butterfly Labs selected BitPay over online payment services provided by Dwolla and PayPal, which lead to record processing figures for the startup.

Court case ahead

Pursuant to the case’s original filing, Butterfly Labs will now move toward an eventual court case.

In the original filing, the FTC sought to secure relief on behalf of the consumers, seeking the authority to refund consumers and sell off any illegally obtained.

Butterfly Labs continues to be preserved as a legal entity and could eventually resume operations, depending on the outcome of its court case. Company executives have previously spoken out about the actions taken by the FTC, asserting that the agency overreached when closing its operations and that the firm will be vindicated in court.

The US District Court for the Western District of Missouri told CoinDesk that the case is still in its earliest stages and that no upcoming court dates have been set.

[devnullius]

FROM: https://bitcointalk.org/index.php?topic=150803.12380

[Posted for the sake of Clarification and Discussion purposes. Credits go to https://forums.butterflylabs.com/forum.php for making this post possible. Protected under the FAIR USE Act.]

Just to give you an inkling in the life of just 1 BFL customer waiting in line to get their refund.



If you patiently read through the above, you now know why TekHed is defending BFL. Once he probably gets his ass out of the fire, all else is shit to him. So if deception and [apparently] "false" support somehow [he perhaps perceives?] keeps this boat afloat with his invested assets...that is what he may have to resort to.

I have news to report, Slok has finally stopped deleting customers posts!

https://forums.butterflylabs.com/the-monarch-discussion/8893-ftc-v-bfl-take-2-a-6.html#post86844

I also believe (and have believed for a while) that TekHead is someones sock at BFL. I call him a PR Sock Puppet.

Joined: 12-05-2013
Barely has any posts, and a good portion of them are recent.
His status has also interestingly become "Experienced Miner". Uh shouldn't he be a "Junior Member" with those few posts?

The fact of the matter is that BFL has been 100% truthful with how they have operated, they stated that the product was a PRE-ORDER ITEM on the Monarch sales page and that the date of delivery WAS AN ESTIMATE and anyone who waited the 6th month period attached to the pre-order timeline before asking for a refund was being granted it [after a 45day wait period].

In light of recent revelations, I demand that this thread now be locked because it will no longer serve any further purpose.

One final #ASKFTC, with apologies to Grimm and his family of slut-puppies.

I fixed that quote with some extra details TekHead forgot to mention?

Lets see 182.5 days...add the 45 days....227.5 days just to get a refund!? Holy shit.

227.5 days
32.5 Weeks
8.125 Months

Or about...1/50th or 1/100th of your life. Give or take a leap year day. Oh and the lag time for customer service to get back to you.

#ASKFTC