Allegations of breach of contract, money laundering and fraud have been leveled against OkCoin.com by Roger Ver accusing the company he contracted to manage Bitcoin.com of fraudulently signing his name to contracts, changing or adding terms and breach of contract relating to his compensation.  The findings of an independent IT consultant out of Tokyo determined that OKCoin added “OKCoin may cancel the contract by givin [sic] Roger 6 months advanced notice” to the bottom of a revised contract.  The dispute evidently arose out of a lack of revenue from the site expected by OKcoin.com when it entered into the agreement(s).

In addition to the allegations of fraud, the company has failed to pay Mr. Ver the $10,000/month that was to be guaranteed “…regardless. This is a monthly minimum guarantee.”  OKCoin also allegedly offered to make payments to a different (3rd party) bank account, as they believed the primary account was associated to fines owed by Ripple Labs who sold “magical internet money” to Roger Ver (a convicted felon) without providing required federal notification resulting in a $700,000 fine under the bank secrecy act.   Mr. Ver responded to the offer to use a separate account saying “What you are asking me to do in your email is the very definition of money laundering.”

Breach of contract. Fraud. Money Laundering.  Serious litigation requiring extensive experience and expertise from their business litigation legal team.  The Watkins Firm has served the San Diego business community for decades, and has extensive experience in these types of cases.  Contract disputes arise for many reasons, and relationships often sour after business transactions do not go as well as anticipated.

If you are involved in a breach of contract dispute, suspect fraud or have other concerns relating to the behavior of a business associate or contract partner we invite you to contact the Watkins Firm for a substantive and free consultation at 858-535-1511.