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Auditchain goes bankrupt; community united in suspicion of fraud

auditchain goes bankrupt ceo accused of fraud

Investors are taking legal action against the founder of the cryptocurrency startup Auditchain. The founder of the company has apparently sent a message to all the investors and stakeholders that the company has been bankrupt.

A letter shared among the community; through Telegram channel of the actively seeking justice group, revealed that the bankruptcy message circulated by the founder Jason Meyers was the last communication. However, it followed a string of communication gaps between the investors and the founder.

The pinned message on the Telegram channel informs that “despite his representations to the contrary on these chats, Jason FAILED to turn over the two lists…”. Jason was supposed to turn over the list of SAFT purchasers and the list of creditors.

The post further reveals that the development team of the project that includes the expert Stuart Haber has left the startup after several weeks of lack of communication between the stakeholders and the chief executive officer, Jason Meyers.

Auditchain goes bankrupt; community united in suspicion of fraud 1

The letter reveals that the entrepreneur Jason Meyers had lied to the investors when he expressed that a sum of three hundred thousand dollars would be enough to pay off the existing debt and six hundred thousand dollars would make Auditchain a viable company.

Investors had managed to pull a buy off of the firm, however, after signing initial documents Meyers has failed to provide the list that would clarify the exact number in debt and the assumption would be clear whether or not the six hundred thousand dollar amount would be enough to make it into viable numbers.

The letter also reveals that Meyers had some new terms and conditions that he wanted to include in the legal documents that were rejected by the buyers and he hasn’t really been heard from since the argument.

Saad B. Murtaza

Saad B. Murtaza

Journalist, Writer, Editor, Researcher, and Strategist with over 10 years of experience in the digital, print and public relations industries, Saad has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a self-sustaining institute that provides free education. Carrying a diverse portfolio he has studied and written on topics related to cyber crimes, scams, blockchain, and cryptocurrencies.

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