Crandall StrutherCrandall Struthers v Hudgins Fibonacci et al.pdfs v Hudgins Fibonacci Et Al

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Filing # 21180230 Electronically Filed 12/03/2014 12:37:11 PM

IN THE CIRCUIT COURT OF THE
TWENTIETH JUDICIAL CIRCUIT IN
AND FOR LEE COUNTY, FLORIDA
Thomas Crandall and
Charles Struthers,
Plaintiffs,
vs.

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Jason A. Hudgins a/k/a Jasin Hudgins
and/or JasinLee; Jessica Hudgins
f/k/a Jessica Reyes; Sharon Garcia;
Maxmillion McLaughlin; Austin Tindale;
Scrypted Life, Inc.

Defendants.
__________________________________/

COMPLAINT

Plaintiffs, THOMAS CRANDALL (“Crandall”) and CHARLES STRUTHERS

(“Struthers”)(collectively, “Plaintiffs”), by and through their undersigned counsel, hereby sue
Defendants, JASON A. HUDGINS a/k/a Jasin Hudgins and/or JasinLee (“Hudgins”); JESSICA
HUDGINS (“Jessica”); SHARON GARCIA (“Garcia”); MAXMILLION MCLAUGHLIN
(“McLaughlin”); AUSTIN TINDALE (“Tindale”); and SCRYPTED LIFE, INC. (“Scrypted
Life”)(collectively, “Defendants”) for violations of Florida law to recover damages, attorney’s
fees, and costs. In support thereof, Plaintiffs state as follows:
1.

This action is to compensate Plaintiffs for losses arising from an internet scam

based around the alleged sale of computer equipment purportedly designed to be used to “mine”
or create virtual currency.

{29985802;1}

AKERMAN LLP, 777 SOUTH FLAGLER DRIVE, SUITE 1100 WEST TOWER, WEST PALM BEACH, FL 33401

2.

Defendants, primarily lead by Hudgins, used various internet forums, including

but not limited to www.litecointalk.org, to falsely solicity and obtain payments for computer
equipment which never existed.
3.

Defendants solicited buyers, including the Plaintiffs, and absconded with their

4.

The Defendants’ scam, however, included an additional layer of fraud and deceit.

5.

As part of the false solicitation of “purchases,” Defendants solicited Plaintiffs to

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money.

convert their money into an obscure virtual currency called Cachecoin and, in exchange,
Defendants would give the buyers (Plaintiffs) a discount on Plaintiffs’ purchase. Defendants
solicited Plaintiffs to use Cachecoin because, unbeknowst to Plaintiffs, (a) the use of Cachecoin
would permit Defendants to conceal their identities as well as hide Defendants’ transaction and
account information and (b) Defendants were intentionally encouraging Cachecoin (which they
had secretly developed) in order to fraudulently increase its value so they could further profit by
using Plaintiffs’ money (and money from other buyers and investors) to create a false market for
Cachecoin.
6.

Plaintiffs lost their money when Defendants unlawfully retained Plaintiffs’

“purchase” and when Defendants used Plaintiffs’ money to further profit by fraudulently
pumping-and-dumping Cachecoin.

THE PARTIES, VENUE, AND JURISDICTION

7. Plaintiffs are individuals, sui juris, domiciled in Clay, New York and Pinckney,

Michigan, respectively.
8.

Defendants HUDGINS and JESSICA are individuals, sui juris, domiciled in Lee

County, Florida.
{29985802;1}

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AKERMAN LLP, 777 SOUTH FLAGLER DRIVE, SUITE 1100 WEST TOWER, WEST PALM BEACH, FL 33401

9.

Defendants GARCIA, MCLAUGHLIN, TINDALE are individuals, sui juris,

domiciled in Lee County, Florida.
10.

Defendant SCRYPTED LIFE is an active Florida For-Profit Corporation

domiciled and doing business in Lee County, Florida.
11.

SCRYPTED LIFE is an alter ego of HUDGINS and JESSICA, who dominate and

control SCRYPTED LIFE to further their fraud and personal financial interests.
All acts or omissions were committed by the Defendants in Lee County, Florida

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12.

within the jurisdiction of this Court and thus jurisdiction and venue are proper.
13.

All Defendants are domiciled in Lee County, Florida within the jurisdiction of

this Court and thus jurisdiction and venue are proper.

GENERAL ALLEGATIONS

A.

Virtual Currency

14.

According to the Department of Treasury, “virtual currency is a medium of

exchange that operates like a currency in some environments but does not have all the attributes
of real currency.”

See Application of FinCEN’s Regulations to Persons Administering,

Exchanging, or Using Virtual Currencies, http://fincen.gov/statutes_regs/guidance/html/FIN2013-G001.html (last visited November 25, 2014)(“FinCEN Guidance”).
15.

Likewise, “convertible” virtual currency is a “type of currency [that] either has an

equivalent value in real currency or acts as a substitute for real currency.” Id.
16.

The Department of Treasury stated in the March 2013 FinCEN Guidance that

users of virtual currency (like Plaintiffs) does not fall under FinCEN regulation however
administrators and exchangers of virtual currency (such as Defendants) are subject to federal
regulation.
{29985802;1}

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AKERMAN LLP, 777 SOUTH FLAGLER DRIVE, SUITE 1100 WEST TOWER, WEST PALM BEACH, FL 33401

17.

In March 2014, the Florida Office of Financial Regulation (“OFR”) issued a

Consumer Alert: Virtual Currencies warning consumers about “the potential risks associated
with purchasing, investing in, and exchanging virtual currencies, such as bitcoin.”
Consumer

Alert:

Virtual

See

Currencies,

http://www.myfloridacfo.com/pressoffice/ViewConsumerAlert.asp?ID=4250

(last

visited

November 25, 2014)(“First OFR Alert”).
In September 2014, OFR issued its Consumer Alert: Update on Virtual Currency

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18.

which confirmed that “virtual currency has become a more prominent method of doing business
within our financial services industry” and that “bitcoin and other popular virtual currencies
mean new concerns for investors and regulators because of the increased risk of fraud.” See
Consumer

Alert:

Update

on

Virtual

http://www.myfloridacfo.com/pressoffice/ViewConsumerAlert.asp?ID=4352

Currency,

(last

visited

November 25, 2014)(“Second OFR Alert”).
19.

Because of the timing of the First and Second OFR Alert as well as its regional

audience, Plaintiffs did not have the benefit of the State of Florida’s warning which applies to
Defendants’ acts and omissions.
B.

Defendants’ Fibonacci Scam

20.

Hudgins and Jessica are a husband-and-wife team who, in 2013-2014, launched a

two-part scheme to seek (a) “buyers,” like Plaintiffs, for purported ASICS mining gear
equipment and (b) “investors” who would pay into the Defendants’ hosted mining operation
where Defendants would operate virtual currency “mining” on a large scale and supposedly
share the profits with “investors.”

{29985802;1}

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AKERMAN LLP, 777 SOUTH FLAGLER DRIVE, SUITE 1100 WEST TOWER, WEST PALM BEACH, FL 33401

21.

As part of this illicit scheme, Hudgins and Jessica solicited potential “buyers,”

herein the Plaintiffs, by claiming that they had developed an efficient and groundbreaking
computer technology (the ASICS mining gear) which Defendants had designed and would
supposedly sell to the Plaintiffs.
22.

But Hudgins and Jessica could not foist this scheme alone, especially since it

required development of Cachecoin; the appearance of developing computer equipment; virtual

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currency development and mining; website hosting and design; marketing; and, most
importantly, currency processing.
23.

Hudgins and Jessica obtained the assistance of Defendants GARCIA,

MCLAUGHLIN, TINDALE who served various functions to promote and perpetuate the
fraudulent and unlawful activities, including but not limited to providing technical support,
website hosting and design, promotions/marketing, accounting/finance, and other services.
24.

The SCRYPTED LIFE entity and its resources were used to accept and process

payments; pay for equipment and services; and otherwise serve as the corporate shell to protect
and conceal the Defendants and their unlawful activities.
25.

Defendants, through Hudgins and accounts bearing Hudgins’ username/likeness,

used direct email as well as internet forums such as Litecointalk.org to solicit money and induce
the Plaintiffs to convert their fiat and virtual currency into Cachecoin (through third parties) in
order to allegedly receive a discount.
26.

From the foregoing acts by all Defendants, the www.fibonacci.io website

(“Fibonacci Website”) was born.

{29985802;1}

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AKERMAN LLP, 777 SOUTH FLAGLER DRIVE, SUITE 1100 WEST TOWER, WEST PALM BEACH, FL 33401

27.

Through the Fibonacci1 Website, Defendants received/processed the Plaintiffs’

money (which Plaintiffs, in reliance on Defendants’ statements, had converted into Cachecoin
via third party exchanges) and Defendants received the “payments” from Plaintiffs.
28.

Defendants,

acting

through

Hudgins

(and/or

accounts

bearing

his

username/likeness) as the spokesperson, initially appeared on Litecointalk.org in April 2013
touting the “FPGA LTC miner” equipment. On December 11, 2013, Defendants changed the

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project to be the sale of “Fibonacci Scrypt ASIC Miners” and claiming to accept “pre-orders” for
“the main unit we will be selling [..] affectionaly named the Axiom.” Defendants promised a
“proof of work should be complete this week” and that “we will issue refunds…”
29.

Defendants never produced the “proof of work” nor the Axiom.

30.

From April - November 2013, the Defendants successfully promoted their so-

called Fibonacci Project while, at the same time, thwarting inquiries and dampening any
frustrations. See https://litecointalk.org/index.php?topic=2702.690 (“Litecointalk Thread”)(last
visited November 25, 2014)(e.g., the November 12, 2013 post by Defendants, “We are working
to finalize all the partnerships we have been negotiating before going live with any of the critical
details. Once the ink is on the papers, we will point out the companies we have been working
with offline and introduce everyone to the team”).
31.

In December 2013, Defendants confirmed on the Litecoin Thread that they would

be selling “units” in their (non-existent) mining operations.

1

“Fibonacci” in the name of the Fibonacci Website appears to be a reference to Leonardo Bonacci, a twelfth century
mathematician who introduced Europe to Arabic numbers which were simpler than Roman numerals. At least in
Europe, he is credited with the introduction of the use of string of increasing integers known as Fibonacci numbers
which, in the modern era, has been the basis for computer algorithms for search technique and data structure. See
https://en.wikipedia.org/wiki/Fibonacci (last visited November 25, 2014).

{29985802;1}

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AKERMAN LLP, 777 SOUTH FLAGLER DRIVE, SUITE 1100 WEST TOWER, WEST PALM BEACH, FL 33401

32.

Again, in January 2014, Defendants, through Hudgins’ username/likeness, falsely

promised “will will refund based upon the $ amount, we cannot possibly base it upon the
fluctuating price of different currencies.”
33.

In March 2014, Defendants began accepting “pre-orders” and solicited the

Plaintiffs to make a “payment” for virtual currency mining equipment.
34.

On or about March 17, 2014, Plaintiff STRUTHERS converted currency to

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approximately 4,500 Cachecoin and sent that to Defendants as “payment” for the computer
equipment. At that time, STRUTHERS’ “payment” was valued at approximately $28,800.00.
35.

On or about March 17, 2014, Plaintiff CRANDALL converted two of three

payments of $6,284.58, $5,911.33, and $5,911.33 to Cachecoin and sent that to Defendants as
“payment” for three orders of computer equipment (estimated total $18,107.00 in U.S. dollars).
On July 16, 2014, CRANDALL received a partial refund from Defendants of $3,502.22 (total
“payment” is estimated to be $14,604.78).
36.

During the Spring of 2014, because of the Defendants’ “discount” for use of

Cachecoin, the value of Cachecoin was artificially inflated because of the Defendants’
“discount” scam.
37.

Ubeknowst to Plaintiffs, this was part of Defendants’ scam to not only take

Plaintiffs’ money directly but to profit by having Plaintiffs and other “buyers” and “investors”
use Cachecoin, which increased the value of Cachecoin. This was of interest and profit to
Defendants, who were responsible for launching Cachecoin.
38.

According to Defendants, their mining operations and sales of mining equipment

were to begin in August 2014.

{29985802;1}

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AKERMAN LLP, 777 SOUTH FLAGLER DRIVE, SUITE 1100 WEST TOWER, WEST PALM BEACH, FL 33401

39.

By August 2014, however, the www.fibonacci.io was offline and Defendants had

absconded with Plaintiffs’ money.
40.

In short, Plaintiffs never received any computer equipment or full refund from

Defendants, who essentially disappeared.
41.

At or around August 2014, Cachecoins were essentially worthless. As of today,

Cachecoins are worth less than $.0003 cents with little interest or activity.

See

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https://www.cryptsy.com/markets/view/154 (last viewed November 25, 2014).
42.

By falsely inducing Plaintiffs to convert currency into Cachecoins, Defendants

unjustly and unlawfully profited at Plaintiffs’ expense.
43.

Defendants never responded to Plaintiffs’ inquiries or requests for a refund and

unlawfully retained Plaintiffs’ money.
44.

As a result of the acts and omissions of the Defendants, Plaintiffs have had to hire

undersigned counsel to pursue these claims.
45.

Plaintiffs reserve the right to seek leave to amend the Complaint to seek punitive

damages as well as add additional counts and/or defendants as further discovery and
investigation warrants.

COUNT I -- FRAUD

46.

Plaintiffs re-aver and re-allege the General Allegations in paragraphs 1 - 45 as if

fully set forth in this Count.
47.

Defendants, through Hudgins (and/or accounts bearing his username/likeness),

made false statements of fact as described in paragraphs 20 - 45 above.
48.

Defendants knew or should have known that said false statements were false at

the time those statements were made.
{29985802;1}

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AKERMAN LLP, 777 SOUTH FLAGLER DRIVE, SUITE 1100 WEST TOWER, WEST PALM BEACH, FL 33401

49.

Defendants intended Plaintiffs to reply on Defendants’ false representations to

induce Plaintiffs to give money to the Defendants as an “investment.”
50.

Plaintiffs relied on the Defendants’ representations to their injury and loss.

51.

As a result of Defendants’ fraud, Plaintiffs have suffered damages.

WHEREFORE, Plaintiffs seek damages, lost profits, interest, attorney’s fees, and costs
and grant such further relief as the Court deems just and proper.

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COUNT II -- FRAUD IN THE INDUCEMENT
52.

Plaintiffs re-aver and re-allege the General Allegations in paragraphs 1 - 45 as if

fully set forth in this Count.
53.

Defendants, through Hudgins, made false statements of fact as described in

paragraphs 20 - 45 above.
54.

Defendants knew that said false statements were false at the time those statements

were made.
55.

Defendants intended Plaintiffs to rely on Defendants’ false representations to

induce Plaintiffs to give money to the Defendants as a “purchase.”
56.

Plaintiffs relied on the Defendants’ representations and took action by converting

their currency to Cachecoin and giving the Cachecoin to Defendants as part of a “purchase” of
non-existent computer equipment “sold” by Defendants.
57.

As a result of Defendants’ fraud, Plaintiffs have suffered damages.

WHEREFORE, Plaintiffs seek damages, lost profits, interest, and costs and grant such

further relief as the Court deems just and proper.

{29985802;1}

9
AKERMAN LLP, 777 SOUTH FLAGLER DRIVE, SUITE 1100 WEST TOWER, WEST PALM BEACH, FL 33401

COUNT III -- UNJUST ENRICHMENT
58.

Plaintiffs re-aver and re-allege the General Allegations in paragraphs 1 - 45 as if

fully set forth in this Count.
59.

Plaintiffs have conferred a benefit on the Defendants by converting Plaintiffs’

currency to Cachecoin and then giving it to Defendants as part of a “purchase” of non-existent
computer equipment “sold” by Defendants.
Defendants voluntarily accepted and retained the benefit conferred.

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60.
61.

The circumstances render Defendants’ retention of the benefit inequitable unless

the Defendants pay to Plaintiffs the value of said benefit.
62.

Plaintiffs are entitled to damages as a result of Defendants’ unjust enrichment

including the disgorgement of all monies unlawfully accepted by Defendants from Plaintiffs.
WHEREFORE, Plaintiffs seek damages, lost profits, interest, and costs and grant such

further relief as the Court deems just and proper.

COUNT IV -- VIOLATION OF FLORIDA SECURITY AND INVESTOR
PROTECTION ACT, FLORIDA STATUTE 517.011, et seq.

63.

Plaintiffs re-aver and re-allege the General Allegations in paragraphs 1 - 45 as if

fully set forth in this Count.
64.

The Cachecoin promoted and sold by Defendants and purchased by Plaintiff

constitute securities under federal law (Securities Act of 1933) and state law (Florida Statute
517.011 et seq.).
65.

In contravention of Florida Statute 517.301, Defendants, in connection with the

rendering of investment advice and in connection with the offer, sale, and/or purchase of an
investment or security:
a)

employed a device and/or scheme to defraud Plaintiffs;

{29985802;1}

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AKERMAN LLP, 777 SOUTH FLAGLER DRIVE, SUITE 1100 WEST TOWER, WEST PALM BEACH, FL 33401

66.

b)

obtained Plaintiffs’ money or property by means of untrue statements of fact
as described above;

c)

obtained Plaintiffs’ money or property by means of omissions of statements
of fact as described above which made Defendants’ statements misleading;

d)

engaged in transactions, practices, and courses of conduct (described above)
which operated as a fraud and/or deceit on Plaintiffs.

Defendants intended that their representations / omissions would induce Plaintiffs

to rely and act on them.
Plaintiffs justifiably relied upon Defendants’ acts and representations.

68.

As a result, Plaintiffs suffered damages and loss.

69.

As a result, Plaintiffs have been forced to retain counsel and pay attorney’s fees

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67.

and costs.

WHEREFORE, Plaintiffs seek damages, lost profits, interest, attorney’s fees, and

costs and grant such further relief pursuant to Florida Statute 517.011 et seq. as the Court deems
just and proper.

COUNT V -- FALSE AND MISLEADING ADVERTISEMENT

70.

Plaintiffs re-aver and re-allege the General Allegations in paragraphs 1 - 45 as if

fully set forth in this Count.
71.

Defendants advertised their mining equipment and mining services as described in

paragraphs 20 - 45 above.
72.

Plaintiffs relied upon Defendants’ false and misleading advertisements.

73.

Defendants made misrepresentations of material fact as described above.

74.

Defendants knew or should have known that the falsity of their advertisements.

75.

Defendants intended that their representations / advertisements would induce

Plaintiffs to rely and act on them.
{29985802;1}

11
AKERMAN LLP, 777 SOUTH FLAGLER DRIVE, SUITE 1100 WEST TOWER, WEST PALM BEACH, FL 33401

76.

As a result, Plaintiffs suffered damages and loss.

77.

As a result, Plaintiffs have been forced to retain counsel and pay attorney’s fees

and costs.
WHEREFORE, Plaintiffs seek damages, lost profits, interest, attorney’s fees, and
costs and grant such further relief pursuant to Florida Statute 817.41 et seq. as the Court deems
just and proper.

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COUNT VI -- CIVIL THEFT, FLORIDA STATUTES 772.11 and 812.035 et seq.
78.

Plaintiffs re-aver and re-allege the General Allegations in paragraphs 1 - 45 as if

fully set forth in this Count.
79.

Defendants knowingly endeavored to and actually obtained and used Plaintiffs

money through false promotion of their purported products as described in paragraphs 20 - 45
above.

80.

Defendants permanently deprived Plaintiffs of the money which Plaintiffs gave to

Defendants as part of a “purchase” of non-existent computer equipment “sold” by Defendants.
81.

Plaintiffs have complied with all conditions precedent to bringing this Count.

82.

As a result, Plaintiffs suffered damages and loss.

83.

As a result, Plaintiffs have been forced to retain counsel and pay attorney’s fees

and costs.

WHEREFORE, Plaintiffs seek treble damages, lost profits, disgorgement of

monies, interest, attorney’s fees, and costs and grant such further relief pursuant to Florida
Statutes 772.11 and 812.035 et seq. and grant such further relief as the Court deems just and
proper.

{29985802;1}

12
AKERMAN LLP, 777 SOUTH FLAGLER DRIVE, SUITE 1100 WEST TOWER, WEST PALM BEACH, FL 33401

COUNT VII -- NEGLIGENCE
84.

Plaintiffs re-aver and re-allege the General Allegations in paragraphs 1 - 45 as if

fully set forth in this Count.
85.

By soliciting monies from Plaintiffs, Defendants had a duty to (a) act with

reasonable care through the use of Plaintiffs’ money and to provide computer equipment or a
refund; (b) act with reasonable care in complying with all laws, including securities regulations;

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(c) act with reasonable care in their acts, omissions, and promises arising from and relating to the
description of their products and virtual currency mining abilities.
86.

Defendants breached their duties as described in the General Allegations above.

87.

Defendants caused the Plaintiffs to suffer damages and loss.

88.

As a result, Plaintiffs suffered damages and loss.

WHEREFORE, Plaintiffs seek damages, lost profits, interest, and costs and grant

such further relief as the Court deems just and proper.

COUNT VIII -- NEGLIGENT MISREPRESENTATION

89.

Plaintiffs re-aver and re-allege the General Allegations in paragraphs 1 - 45 as if

fully set forth in this Count.
90.

Defendants made misrepresentations of fact to Plaintiffs as described in

paragraphs 20 - 45, above.
91.

Defendants made the misrepresentations without knowledge of their truth or

falsity or should have known the representations were false.
92.

Defendants intended to induce the Plaintiffs to act on the misrepresentations.

93.

Plaintiffs

were

injured

in

justifiable

reliance

upon

Defendants’

misrepresentations.
{29985802;1}

13
AKERMAN LLP, 777 SOUTH FLAGLER DRIVE, SUITE 1100 WEST TOWER, WEST PALM BEACH, FL 33401

WHEREFORE, Plaintiffs seek damages, lost profits, interest, and costs and grant
such further relief as the Court deems just and proper.
COUNT IX -- CONVERSION
94.

Plaintiffs re-aver and re-allege the General Allegations in paragraphs 1 - 45 as if

fully set forth in this Count.
95.

At all times, Plaintiffs were entitled to the possession, use, enjoyment, and control

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of their money which was converted to Cachecoin and transferred to Defendants.
96.

Defendants exercised control over the Plaintiffs’ money/Cachecoins which were

transferred to Defendants as a purported purchase of computer equipment and Defendants
thereby intentionally deprived Plaintiffs of the possession, use, enjoyment, and control of the
Plaintiffs’ money / Cachecoin and converted the same to Defendants’ own possession, use,
enjoyment, and control without any legal right to do so.
97.

Defendants’ dominion and control over the Plaintiffs’ money / Cachecoin and the

use of the Plaintiffs’ money / Cachecoin “purchase” have been to the exclusion of all others
thereto.

98.

Plaintiffs have complied with all conditions precedent to bringing this Count.

99.

As a result, Plaintiffs suffered damages and loss.

100.

Plaintiffs have demanded their Cachecoin from Defendants who have failed to

comply.

101.

As a result, Plaintiffs have been forced to retain counsel and pay attorney’s fees

and costs.

{29985802;1}

14
AKERMAN LLP, 777 SOUTH FLAGLER DRIVE, SUITE 1100 WEST TOWER, WEST PALM BEACH, FL 33401

WHEREFORE, Plaintiffs seek treble damages, lost profits, disgorgement of monies,
attorney’s fees, and costs and grant such further relief pursuant to Florida Statutes 772.11 and
812.035 et seq. and grant such further relief as the Court deems just and proper.
DEMAND FOR JURY TRIAL
Plaintiffs demand a trial by jury in this action.
Dated: December 3, 2014
West Palm Beach, FL

Respectfully submitted,

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/s/ Christopher Hopkins
Christopher B. Hopkins, Esq. (FBN: 116122)
AKERMAN LLP
777 South Flagler Drive
Suite 1100 West Tower
West Palm Beach, FL 33401
Telephone: (561) 653-5000
Facsimile: (561) 659-6313
Primary Email: [email protected]
Secondary Email: [email protected]
Secondary Email: [email protected]
Attorneys for Plaintiffs, Thomas Crandall and
Charles Struthers

{29985802;1}

15
AKERMAN LLP, 777 SOUTH FLAGLER DRIVE, SUITE 1100 WEST TOWER, WEST PALM BEACH, FL 33401

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