BOULDER — A category motion lawsuit has been filed towards Boulder-based blockchain marketer and guide Jacob Kostecki, alleging he defrauded about 2,000 ticket holders and sponsors of an ill-fated conference this 12 months.
Kostecki was the promoter behind the 2020 “Massive Adoption in Memphis: Blockchain and Digital Assets” occasion, which was scheduled to run Feb. 27 and 28 on the College of Memphis. The occasion was initially scheduled for November 2019 however was delayed to February of this 12 months.
The grievance filed Thursday within the U.S. District Court docket of Colorado alleges Kostecki supplied round-trip airfare and lodging packages at a comparatively low fee of $300 to $400. On Jan. 31, he printed a weblog submit canceling the occasion because of lower-than-expected gross sales and supposed to refund everybody by July.
Nevertheless, the grievance alleges Kostecki pocketed the funds and isn’t refunding as promised, saying he instructed clients that he’s delaying refunds till the continuing COVID-19 disaster ends.
The grievance is looking for to recoup the prices of shopping for tickets or sponsorships for the occasion, together with authorized charges for submitting the swimsuit.
Cryptocurrency fans on Twitter lambasted the occasion’s collapse utilizing the hashtag #cryptofyrefest, a reference to the notorious Fyre Pageant that promised a large music occasion at low value and delivered an organizational debacle, costing buyers $26 million within the course of.
Kostecki has a historical past of aggressive conduct within the realm of startups. In 2016, TechCrunch reported tales of Polish entrepreneurs claiming Kostecki had supplied them consulting assist however later used non-disclosure agreements and threatened their mental property to get his manner. He instructed the expertise publication the allegations had been principally true.
Kostecki additionally seems to have an energetic warrant for arrest in his native Poland issued in January.
In a press release, he instructed BizWest he disputes the claims within the grievance.
“I do not agree with the allegations put forth in the lawsuit, believe there are many errors in the document and look forward to my day in court,” he mentioned.
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