It's astonishing that any lawyer would consider walking into court with nothing more than a computer-generated arbitration award bearing a /s/ before a printed name. Judges aren't stupid. Mr. Dhami's advice borders on malpractice.
Topic: [ANN] BTCJam - Peer to Peer Bitcoin Lending - page 4. (Read 204978 times)
It's astonishing that any lawyer would consider walking into court with nothing more than a computer-generated arbitration award bearing a /s/ before a printed name. Judges aren't stupid. Mr. Dhami's advice borders on malpractice.but what is ya'll opinion about the news at tthe dashbord of btcjam saying:
"Please note that all the digital signatures provided on the arbitration awards are valid and as legally enforceable as paper signatures. Below the full statement from Dhami Law, the company that issues the awards: "Pursuant to the Electronic Signatures in Global and National Commerce Act and Uniform Electronic Transactions Act, electronic or digital signatures are equally valid, and legally enforceable, as paper signatures. Electronic/digital signatures include images of signatures, the typed name of the signing party, electronic symbols intended to indicate the signature of the party, and encrypted keys, any of which establish the present intent to authenticate, adopt, and execute a record/document of the party.""
"Please note that all the digital signatures provided on the arbitration awards are valid and as legally enforceable as paper signatures. Below the full statement from Dhami Law, the company that issues the awards: "Pursuant to the Electronic Signatures in Global and National Commerce Act and Uniform Electronic Transactions Act, electronic or digital signatures are equally valid, and legally enforceable, as paper signatures. Electronic/digital signatures include images of signatures, the typed name of the signing party, electronic symbols intended to indicate the signature of the party, and encrypted keys, any of which establish the present intent to authenticate, adopt, and execute a record/document of the party.""
Unfortunately I think they are wrong
BTCjam removed my comment, so now it can only be seen here in the screendump
Here is a link to the law they are talking about - https://www.gpo.gov/fdsys/pkg/PLAW-106publ229/html/PLAW-106publ229.htm
...and here is a quote from section 103 of the same law (emphasis added..):
Quote
(b) Additional Exceptions.--The provisions of section 101 shall not apply to--
(1) court orders or notices, or official court documents (including briefs, pleadings, and other writings) required to be executed in connection with court proceedings;
(1) court orders or notices, or official court documents (including briefs, pleadings, and other writings) required to be executed in connection with court proceedings;
This link explains what the "electronic signature" mentioned in the above law is -
https://en.wikipedia.org/wiki/Electronic_signature
Here in Europe we use the "advanced electronic signature" mentioned in the last link. It has these qualities -
Quote
1. The signatory can be uniquely identified and linked to the signature
2. The signatory must have sole control of the private key that was used to create the electronic signature
3. The signature must be capable of identifying if its accompanying data has been tampered with after the message was signed
4. In the event that the accompanying data has been changed, the signature must be invalidated
Just writing "/s/ Mickey Mouse" will not not cut the cheese
I expect to have a new information update ready to post tomorrow.
but what is ya'll opinion about the news at tthe dashbord of btcjam saying:
"Please note that all the digital signatures provided on the arbitration awards are valid and as legally enforceable as paper signatures. Below the full statement from Dhami Law, the company that issues the awards: "Pursuant to the Electronic Signatures in Global and National Commerce Act and Uniform Electronic Transactions Act, electronic or digital signatures are equally valid, and legally enforceable, as paper signatures. Electronic/digital signatures include images of signatures, the typed name of the signing party, electronic symbols intended to indicate the signature of the party, and encrypted keys, any of which establish the present intent to authenticate, adopt, and execute a record/document of the party.""
"Please note that all the digital signatures provided on the arbitration awards are valid and as legally enforceable as paper signatures. Below the full statement from Dhami Law, the company that issues the awards: "Pursuant to the Electronic Signatures in Global and National Commerce Act and Uniform Electronic Transactions Act, electronic or digital signatures are equally valid, and legally enforceable, as paper signatures. Electronic/digital signatures include images of signatures, the typed name of the signing party, electronic symbols intended to indicate the signature of the party, and encrypted keys, any of which establish the present intent to authenticate, adopt, and execute a record/document of the party.""
this is simply classic legal CYA or cover your ass, it protects the company from abuse and protects that same said company from being cheated, if you feel that it is not appropriate, then use another site. that is not said to be a smart ass, it is a simple statement that ANY site that states something in the agreement that you disagree with is not a site for you. if you think that something bad is going to happen, then stay away
but what is ya'll opinion about the news at tthe dashbord of btcjam saying:
"Please note that all the digital signatures provided on the arbitration awards are valid and as legally enforceable as paper signatures. Below the full statement from Dhami Law, the company that issues the awards: "Pursuant to the Electronic Signatures in Global and National Commerce Act and Uniform Electronic Transactions Act, electronic or digital signatures are equally valid, and legally enforceable, as paper signatures. Electronic/digital signatures include images of signatures, the typed name of the signing party, electronic symbols intended to indicate the signature of the party, and encrypted keys, any of which establish the present intent to authenticate, adopt, and execute a record/document of the party.""
"Please note that all the digital signatures provided on the arbitration awards are valid and as legally enforceable as paper signatures. Below the full statement from Dhami Law, the company that issues the awards: "Pursuant to the Electronic Signatures in Global and National Commerce Act and Uniform Electronic Transactions Act, electronic or digital signatures are equally valid, and legally enforceable, as paper signatures. Electronic/digital signatures include images of signatures, the typed name of the signing party, electronic symbols intended to indicate the signature of the party, and encrypted keys, any of which establish the present intent to authenticate, adopt, and execute a record/document of the party.""
sry to get a little bit of topic/last post
actually i like the ideo of using crowdfunding to fund money to sue btcjam...ironical it is
anyway just again being cencored by btcjam made me write this post...
in one arbitration award the lenders known address is "27 butt street, its like who is checking this at all" but it got cencored by btcjam again into bott (i corrected the comment by saying it was a typo, this worked but the rest about who is checking this data giot delated...its just rediculous
actually i like the ideo of using crowdfunding to fund money to sue btcjam...ironical it is
anyway just again being cencored by btcjam made me write this post...
in one arbitration award the lenders known address is "27 butt street, its like who is checking this at all" but it got cencored by btcjam again into bott (i corrected the comment by saying it was a typo, this worked but the rest about who is checking this data giot delated...its just rediculous
Kanati,
Regarding enforcemyarbitration we advise you not to work with them, they are using our user database without authorization (they got it from NET-ARB from when we used their service) and working with net-arb to enforce the loans, this is a violation of arbitration laws (the arbitror cannot work with the lawyer that is enforcing the award).
I'm verifying with Dhami what this authentication means. They are a separate arbitration firm and we are not allowed to interfere with the process since the loans are made inside our platform (arbitration needs come from an uninvolved third party).
Best,
Regarding enforcemyarbitration we advise you not to work with them, they are using our user database without authorization (they got it from NET-ARB from when we used their service) and working with net-arb to enforce the loans, this is a violation of arbitration laws (the arbitror cannot work with the lawyer that is enforcing the award).
I'm verifying with Dhami what this authentication means. They are a separate arbitration firm and we are not allowed to interfere with the process since the loans are made inside our platform (arbitration needs come from an uninvolved third party).
Best,
Tulkas,
I have no knowledge or opinion about your database dispute, and to be frank I don't see how it addresses any of the points I raised earlier -
Quote
Whether our coins are 100% lost or not remains to be seen - the only way you lose for sure is to quit trying.
In any case our probability of recovery would increase if BTCjam provided us with AUTHENTICATED arbitration awards. This is also the VERY LEAST they could do considering how they've otherwise stacked the rules against us investors -
Jam collects their fees up front when investors finance the loan, which means they have no actual alignment with investor interests if the loan is not repaid.
Jam does not post statistics about the percentage of borrower defaults on their website, which is a huge risk disclosure omission for any prospective investor (https://btcjam.com/stats).
Jam suddenly changed the rules by announcing they no longer will issue loans to American borrowers. This of course is causing a wave of defaults on existing American loans, since it removes incentive for these borrowers to repay if they no longer have a future on the platform. So far no help or compensation for investors who got screwed when BTCjam decided to pull the carpet out from under them.
Jam suddenly dumped* net-arb.com as their independent arbitration provider, ostensibly "to protect members from spam". The new provider, Dhami Law Firm, has no functioning website, telephone, or e-mail, leaving investors no way to independently confirm the validity of Dhami Law Firm or the arbitration awards issued by them.
*Net-arb is still listed as Jams arbitration provider under bullet 5 of https://btcjam.com/terms-of-use
Jam is still not providing arbitration awards on defaulted loans for investors who bought notes.
Jam even threatens investors against getting help with collecting delinquent loans!..
Quote
"As a reminder, BTCjam’s Terms of Use prohibit your from posting, uploading, publishing, displaying, transmitting, sharing, storing or otherwise making or attempting to make publicly available any personally identifiable information of a borrower. Accordingly, the content of this arbitration award may not be shared via any blog, forum, medium or other communication of any kind."
Basically anyone who sends or shares an arbitration award with other investors, a lawyer, or a collection service is in violation of Jams' terms of service Huh(
Potential investors should stay away from BTCjam until they up their game (a lot!). Current investors need to light a fire under BTCjams a** and make them move on these problems.
Solutions to the above problems would be appreciated, since my support cases on these topics (Case #: 128701 & 142221) seem to have been sucked into a black hole
Investors would not need Mr. Palleys services if BTCjam provided other means for recovering our coins, but until you decide BTCjam debt collection is mature enough to graduate from the experimental stage, and you establish a clear consistent debt collection policy that investors can understand, then Mr. Palley is only resource we have.
When or if that ever happens is out of my control. Right now I am dealing with a massive number of defaults (for example more than 72% defaults on BRL loans from before I turned off AutoInvest...) and the "independent" Dhami Law Firm arbitration awards of questionable authenticity. They are certainly not looking credible since Dhami Law firm removed their website (http://www.dhamilaw.com/) and does not answer phone calls or e-mails
Update -
BTCjam is unsure about what actually constitutes a valid digital signature. I attempted to steer them in the right direction with my last comment on this loan:
https://btcjam.com/listings/51749-2nd-loan-for-s7-miners
Here is a screendump of the comment, in case it's not visible at BTCjam
Latest comment update on loan https://btcjam.com/listings/51749-2nd-loan-for-s7-miners -
Still no response from Tulkas about if he AND Mr. Dhami share the opinion that "/s/ Sukhman Dhami" is a legally binding digital signature.
Update -
Jam deleted my comment about "/S/" not being a genuine digital signature, so the only place it can be found now is in the screen dump above. Jam gave no explanation for why it was deleted
At least some progress has been made, since now I am able to download arbitration awards for the notes I bought. I am still working on getting the arbitration awards authenticated though...
Quote
--------------------------------------------------------------------------------
JUN 20, 2016 | 08:51AM PDT
Original message
Kanati wrote:
The following loans have had defaulted status for several weeks now, but I have not seen any arbitration awards have issued for them yet:
kslabs Update monitoring of transport vehicles.
C - 0.01000 /
0.000000 0 of 2
defaulted 0.01356 Wednesday, October 14,
itscory Debt Consolidation (1st Loan)
C - 0.01016 /
0.011338 7 of 9
defaulted 0.00312 Tuesday, November 3, 2015
dandana Buying a car for my company
C - 0.06083 /
0.017570 1 of 6
defaulted 0.08785 Thursday, November 12, 2015
When will I be able to download the arbitration awards for these loans?
--------------------------------------------------------------------------------
JUN 22, 2016 | 05:10PM PDT
John replied:
The arbitration awards should be available for you to download in your Investments page. Just to make sure, I am sending you the description. Thanks for reaching out!
After 90 days of a borrower missing a payment, the borrower and investors go through the process of arbitration. Arbitration is a legally binding contract in which the investors of the defaulted loan receive all of the borrower’s personal information via an arbitration award. The investors may then use this information to pursue legal action if desired. The borrower technically has 14 days from the date their case is escalated to arbitration to file a dispute. If no dispute is filed after that period, then yourself and the rest of the investors will receive the arbitration award with the borrower’s information automatically via email.
Feel free to contact us with further questions and read more about arbitration here: https://btcjam.com/faqs#arbitration
http://blog.btcjam.com/post/78529756680/
Best,
BTCjam Support Team
--------------------------------------------------------------------------------
JUN 22, 2016 | 11:10PM PDT
Kanati replied:
Clarification - the loan listings mentioned in my last mail have no links to arbitration awards, they are only listed as "defaulted". Other defaulted loans on my "Investments" page do have links to arbitration awards, and I am able to download the awards from them.
The missing links to arbitration awards may possibly have something to do with the fact that I also own notes on these particular loans, but no matter what the reason may be I think that I am still entitled to receive arbitration awards on these loans showing the correct amount owed to me.
This issue is directly related to unresolved support case # 128701 (see attached mail for more information).
--------------------------------------------------------------------------------
JUN 24, 2016 | 08:04AM PDT
Kanati replied:
Dear BTCjam Support
I am still unable to download these awards, and still waiting for your answer.
--------------------------------------------------------------------------------
JUL 26, 2016 | 08:17PM PDT
John replied:
Thanks for your email and apologies for the delay, although this may have been answered on a different read, already. All Arbitration Awards issued after February 2016, should be available for your to download in your Investments Page. Please let me know if otherwise. All Arbitration Awards prior to February 2016, are to be issued by Net Arbitration and they should be contacted for that purpose. All Arbitration Awards are final, meaning they belong to the initial investor of the loan and cannot be transferred when a note is sold to someone else. Thanks for reaching out!
Best,
BTCjam Support Team
--------------------------------------------------------------------------------
JUL 26, 2016 | 09:52PM PDT
Kanati replied:
Hello John, and thanks for your reply.
In your last mail you wrote, "All Arbitration Awards are final, meaning they belong to the initial investor of the loan and cannot be transferred when a note is sold to someone else". BTCjam earlier provided arbitration awards in my name on notes I bought BEFORE the loans went through arbitration, so has this policy changed, or does the statement only apply for notes traded AFTER a loan has been arbitrated?
Your statement also appears to be in conflict with bullet 14 in our arbitration awards (emphasis added) -
"14. The total amount owed by the Debtor at the time the Debtor stopped making paymentsis 6.82991093 bitcoins and is immediately due and payable to the Creditor(s) and their successors and/or assigns as follows:"
I understand this section of the award to mean that I can transfer my share of a loan to a successor, basically contradicting what you wrote(?).
--------------------------------------------------------------------------------
JUL 29, 2016 | 05:06PM PDT
John replied:
Thank you for your email. I have already forwarded your question to my manager, please let me know if you don’t receive a reply within a business day.
Best,
BTCjam Support Team
--------------------------------------------------------------------------------
AUG 02, 2016 | 05:41AM PDT
Kanati replied:
Hello John
One business day has come and gone, but I have not received the promised reply.
Is there any news?
--------------------------------------------------------------------------------
AUG 03, 2016 | 07:06PM PDT
John replied:
Thank you for your email. I have not heard back from the legal department, they have told me what I already told you, that all Arbitration Awards are final. Should they reply to me with an extensive answer, I will be happy to let you know. Thanks for reaching out!
Best,
BTCjam Support Team
The text in my netARB awards are nearly identical to Dhami Law Firm awards, and also signed with "/s/", so I am also following up on the verification and authenticity issues with them and Kevin Palley (enforcemyarbitrationaward.com). At the moment I am waiting for answers from the respective parties - I will post again here when I know more.
Since Jam is (still..) based in California it may be possible for us to get the California Attorney General to take action on our supposedly legally binding arbitration awards not being digitally signed or otherwise notarized. A more expensive option would be to sue BTCjam directly, but considering how many people are fed up with them I think we might be able to do this with crowd funding
Kindly post your (constructive..) comments here, so I can get an idea about how many people would be interested in pursuing these options
Would appreciate being updated Kanati. Paid my last payable so I have another month to make up my mind.
Considering the Dhami awards are worthless, there's no need for anyone to pay anymore. Who's going to come after you? Tulkas? roflmao I am going to quit paying until this thing is resolved, zero support from jam what the hell.
Understandable that you are pissed-off at Jam (who isn't!?!...), but not paying doesn't hurt them since they already took their profit from your loan fees (not paying only screws your investors
).I received a somewhat vague e-mail response from Jam support today, and wrote them back asking for clarification. I will post an update when I know more.
Even though it is the wrong state of mind but look at it from my perspective: I have over 8 btc outstanding to receive and about 4 btc to pay. Everything turned to default after their little US blockade. If I lived in San Fran I would go to their damn office for some clarification, this is just insane as it has been weeks by now..
Would appreciate being updated Kanati. Paid my last payable so I have another month to make up my mind.
If this topic, read someone from representatives of BTC jam, please pay attention to any number of defaults on borrowing.
You need to implement the arbitration within the project.
You need to implement the arbitration within the project.
I am going to quit paying until this thing is resolved, zero support from jam what the hell.
Understandable that you are pissed-off at Jam (who isn't!?!...), but not paying doesn't hurt them since they already took their profit from your loan fees (not paying only screws your investors
).I received a somewhat vague e-mail response from Jam support today, and wrote them back asking for clarification. I will post an update when I know more.
I am going to quit paying until this thing is resolved, zero support from jam what the hell.
Kanati,
Regarding enforcemyarbitration we advise you not to work with them, they are using our user database without authorization (they got it from NET-ARB from when we used their service) and working with net-arb to enforce the loans, this is a violation of arbitration laws (the arbitror cannot work with the lawyer that is enforcing the award).
I'm verifying with Dhami what this authentication means. They are a separate arbitration firm and we are not allowed to interfere with the process since the loans are made inside our platform (arbitration needs come from an uninvolved third party).
Best,
Regarding enforcemyarbitration we advise you not to work with them, they are using our user database without authorization (they got it from NET-ARB from when we used their service) and working with net-arb to enforce the loans, this is a violation of arbitration laws (the arbitror cannot work with the lawyer that is enforcing the award).
I'm verifying with Dhami what this authentication means. They are a separate arbitration firm and we are not allowed to interfere with the process since the loans are made inside our platform (arbitration needs come from an uninvolved third party).
Best,
Tulkas,
I have no knowledge or opinion about your database dispute, and to be frank I don't see how it addresses any of the points I raised earlier -
Quote
Whether our coins are 100% lost or not remains to be seen - the only way you lose for sure is to quit trying.
In any case our probability of recovery would increase if BTCjam provided us with AUTHENTICATED arbitration awards. This is also the VERY LEAST they could do considering how they've otherwise stacked the rules against us investors -
Jam collects their fees up front when investors finance the loan, which means they have no actual alignment with investor interests if the loan is not repaid.
Jam does not post statistics about the percentage of borrower defaults on their website, which is a huge risk disclosure omission for any prospective investor (https://btcjam.com/stats).
Jam suddenly changed the rules by announcing they no longer will issue loans to American borrowers. This of course is causing a wave of defaults on existing American loans, since it removes incentive for these borrowers to repay if they no longer have a future on the platform. So far no help or compensation for investors who got screwed when BTCjam decided to pull the carpet out from under them.
Jam suddenly dumped* net-arb.com as their independent arbitration provider, ostensibly "to protect members from spam". The new provider, Dhami Law Firm, has no functioning website, telephone, or e-mail, leaving investors no way to independently confirm the validity of Dhami Law Firm or the arbitration awards issued by them.
*Net-arb is still listed as Jams arbitration provider under bullet 5 of https://btcjam.com/terms-of-use
Jam is still not providing arbitration awards on defaulted loans for investors who bought notes.
Jam even threatens investors against getting help with collecting delinquent loans!..
Quote
"As a reminder, BTCjam’s Terms of Use prohibit your from posting, uploading, publishing, displaying, transmitting, sharing, storing or otherwise making or attempting to make publicly available any personally identifiable information of a borrower. Accordingly, the content of this arbitration award may not be shared via any blog, forum, medium or other communication of any kind."
Basically anyone who sends or shares an arbitration award with other investors, a lawyer, or a collection service is in violation of Jams' terms of service Huh(
Potential investors should stay away from BTCjam until they up their game (a lot!). Current investors need to light a fire under BTCjams a** and make them move on these problems.
Solutions to the above problems would be appreciated, since my support cases on these topics (Case #: 128701 & 142221) seem to have been sucked into a black hole
Investors would not need Mr. Palleys services if BTCjam provided other means for recovering our coins, but until you decide BTCjam debt collection is mature enough to graduate from the experimental stage, and you establish a clear consistent debt collection policy that investors can understand, then Mr. Palley is only resource we have.
When or if that ever happens is out of my control. Right now I am dealing with a massive number of defaults (for example more than 72% defaults on BRL loans from before I turned off AutoInvest...) and the "independent" Dhami Law Firm arbitration awards of questionable authenticity. They are certainly not looking credible since Dhami Law firm removed their website (http://www.dhamilaw.com/) and does not answer phone calls or e-mails
Update -
BTCjam is unsure about what actually constitutes a valid digital signature. I attempted to steer them in the right direction with my last comment on this loan:
https://btcjam.com/listings/51749-2nd-loan-for-s7-miners
Here is a screendump of the comment, in case it's not visible at BTCjam
Latest comment update on loan https://btcjam.com/listings/51749-2nd-loan-for-s7-miners -
Still no response from Tulkas about if he AND Mr. Dhami share the opinion that "/s/ Sukhman Dhami" is a legally binding digital signature.
Update -
Jam deleted my comment about "/S/" not being a genuine digital signature, so the only place it can be found now is in the screen dump above. Jam gave no explanation for why it was deleted
[/quote]
Latest comment update on loan https://btcjam.com/listings/51749-2nd-loan-for-s7-miners -
Still no response from Tulkas about if he AND Mr. Dhami share the opinion that "/s/ Sukhman Dhami /s/" is a legally binding digital signature.
[/quote]
Wow...is Tulkas really that arrogant that he tries to pass such shit in BTCJam? Oh well, his website so his rules I suppose. Hope he gets a better legal team soon!
Kanati,
Regarding enforcemyarbitration we advise you not to work with them, they are using our user database without authorization (they got it from NET-ARB from when we used their service) and working with net-arb to enforce the loans, this is a violation of arbitration laws (the arbitror cannot work with the lawyer that is enforcing the award).
I'm verifying with Dhami what this authentication means. They are a separate arbitration firm and we are not allowed to interfere with the process since the loans are made inside our platform (arbitration needs come from an uninvolved third party).
Best,
Regarding enforcemyarbitration we advise you not to work with them, they are using our user database without authorization (they got it from NET-ARB from when we used their service) and working with net-arb to enforce the loans, this is a violation of arbitration laws (the arbitror cannot work with the lawyer that is enforcing the award).
I'm verifying with Dhami what this authentication means. They are a separate arbitration firm and we are not allowed to interfere with the process since the loans are made inside our platform (arbitration needs come from an uninvolved third party).
Best,
Tulkas,
I have no knowledge or opinion about your database dispute, and to be frank I don't see how it addresses any of the points I raised earlier -
Quote
Whether our coins are 100% lost or not remains to be seen - the only way you lose for sure is to quit trying.
In any case our probability of recovery would increase if BTCjam provided us with AUTHENTICATED arbitration awards. This is also the VERY LEAST they could do considering how they've otherwise stacked the rules against us investors -
Jam collects their fees up front when investors finance the loan, which means they have no actual alignment with investor interests if the loan is not repaid.
Jam does not post statistics about the percentage of borrower defaults on their website, which is a huge risk disclosure omission for any prospective investor (https://btcjam.com/stats).
Jam suddenly changed the rules by announcing they no longer will issue loans to American borrowers. This of course is causing a wave of defaults on existing American loans, since it removes incentive for these borrowers to repay if they no longer have a future on the platform. So far no help or compensation for investors who got screwed when BTCjam decided to pull the carpet out from under them.
Jam suddenly dumped* net-arb.com as their independent arbitration provider, ostensibly "to protect members from spam". The new provider, Dhami Law Firm, has no functioning website, telephone, or e-mail, leaving investors no way to independently confirm the validity of Dhami Law Firm or the arbitration awards issued by them.
*Net-arb is still listed as Jams arbitration provider under bullet 5 of https://btcjam.com/terms-of-use
Jam is still not providing arbitration awards on defaulted loans for investors who bought notes.
Jam even threatens investors against getting help with collecting delinquent loans!..
Quote
"As a reminder, BTCjam’s Terms of Use prohibit your from posting, uploading, publishing, displaying, transmitting, sharing, storing or otherwise making or attempting to make publicly available any personally identifiable information of a borrower. Accordingly, the content of this arbitration award may not be shared via any blog, forum, medium or other communication of any kind."
Basically anyone who sends or shares an arbitration award with other investors, a lawyer, or a collection service is in violation of Jams' terms of service Huh(
Potential investors should stay away from BTCjam until they up their game (a lot!). Current investors need to light a fire under BTCjams a** and make them move on these problems.
Solutions to the above problems would be appreciated, since my support cases on these topics (Case #: 128701 & 142221) seem to have been sucked into a black hole
Investors would not need Mr. Palleys services if BTCjam provided other means for recovering our coins, but until you decide BTCjam debt collection is mature enough to graduate from the experimental stage, and you establish a clear consistent debt collection policy that investors can understand, then Mr. Palley is only resource we have.
When or if that ever happens is out of my control. Right now I am dealing with a massive number of defaults (for example more than 72% defaults on BRL loans from before I turned off AutoInvest...) and the "independent" Dhami Law Firm arbitration awards of questionable authenticity. They are certainly not looking credible since Dhami Law firm removed their website (http://www.dhamilaw.com/) and does not answer phone calls or e-mails
Update -
BTCjam is unsure about what actually constitutes a valid digital signature. I attempted to steer them in the right direction with my last comment on this loan:
https://btcjam.com/listings/51749-2nd-loan-for-s7-miners
Here is a screendump of the comment, in case it's not visible at BTCjam
Latest comment update on loan https://btcjam.com/listings/51749-2nd-loan-for-s7-miners -
Still no response from Tulkas about if he AND Mr. Dhami share the opinion that "/s/ Sukhman Dhami /s/" is a legally binding digital signature.
Like I said, this is in the end going to have to be a class action format suit against Jam and no lawyer will take a case like this on without multiple examples of fraud...lets start assembling and documenting all of the individual examples of fraud perpetrated by Jam and build a case to present to the authorities first...we will probably have better luck with the authorities initially; civil action for damages can follow after an official fraud investigation is conducted.
I don't know if they still do, but I know in the past that several btcjam employees (including senior management people) were investing in numerous btcjam loans while working for btcjam. I wonder if they also lined their pockets with unpaid loans which is why btcjam is fighting so hard not to give us anything enforceable, first cutting ties with a legitimate arbitration firm and now bad-mouthing enforcemyarbitrationaward.com.
Very interesting, is there any way to substantiate your claim? How do you know that such activities were conducted in the past? That kind of activity is akin to Jam buying up deeply discounted Notes on defaulted loans of which they know they could later collect on, using insider knowledge to profit at the expense of investors is not particularly looked on as positive by the authorities
Of course, there is at the time of this writing very little legislation governing BTC transactions in the U.S, but a lot is coming which is why BTCJam probably discontinued servicing US customers so abruptly in March this year. That does not exclude them from civil prosecution though, they had a duty to their investors that they themselves created by offering BTCJam to investors.
I would also be interested in seeing proof of this, but otherwise I agree that there doesn't seem to be much to stop them from taking unfair advantage of insider knowledge on their Notes market.
@Kanati atleast Tulkas is sort of responding (opposing to the customer, which has gone on full ignore it seems). Shouldn't take long to double check it with Dhami Law, a matter of one phone call to them (opposed to us, "for more information contact Dhami Law" <- HOW?!).
I tried to contact Dhami Law by telephone and e-mails (even Sukhman Dhami's private e-mail address on yahoo), but only got silence in return. As it stands now there is no way to independently verify the authenticity of Dhami Law Firm arbitration awards, since he (apparently...) only communicates with Tulkas.
If anyone else here can get hold of him I would like to hear about it.
Well I went ahead and tried the 800 number with no success, number has been disconnected. The website is down, after reading the arbitration award text a bit more closely this does seem to be a pretty good stitch-up, somehow Mr Dhami is deriving his authority to serve as Arbitrator by terms defined by BTCJam itself...does not work that way in the end.
I remember when Jam first announced the Dhami Law Firm as new arbitrators, their website was still functioning then and all they were talking about was helping debtors...not exactly in our best interests really.
Will wait to see what Jam customer support replies with, if not will file a report with the NY Bar Association and send a copy of the arbitration award as suggested. As they are the awards are useless from a legal perspective.
Nice one Tulkas!!
I remember when Jam first announced the Dhami Law Firm as new arbitrators, their website was still functioning then and all they were talking about was helping debtors...not exactly in our best interests really.
Will wait to see what Jam customer support replies with, if not will file a report with the NY Bar Association and send a copy of the arbitration award as suggested. As they are the awards are useless from a legal perspective.
Nice one Tulkas!!
Maybe the New York City bar association can track down the invisible Mr. Dhami to find out what's going on. The more people who complain, the better our chances of getting some attention.
http://www.nycourts.gov/courts/ad1/committees&programs/DDC/Complaint%20Form.pdf
http://www.nycourts.gov/courts/ad1/committees&programs/DDC/Complaint%20Form.pdf
@Kanati atleast Tulkas is sort of responding (opposing to the customer, which has gone on full ignore it seems). Shouldn't take long to double check it with Dhami Law, a matter of one phone call to them (opposed to us, "for more information contact Dhami Law" <- HOW?!).
@PT92, I found these contact details using the Internet archive, site is from 3 April 2016 so should be current... anyone in the US who can try this 800 number?
Contact Information
NATIONAL HEADQUARTERS
The Dhami Law Firm, P.C.
304 Park Avenue South
11th Floor
New York, NY 10001
Toll Free: (800) 906-2908
Facsimile: (877) 212-2298
Email: [email protected]
Unfortunately not based in the US. I assume someone already tried emailing them?
@Kanati atleast Tulkas is sort of responding (opposing to the customer, which has gone on full ignore it seems). Shouldn't take long to double check it with Dhami Law, a matter of one phone call to them (opposed to us, "for more information contact Dhami Law" <- HOW?!).
@PT92, I found these contact details using the Internet archive, site is from 3 April 2016 so should be current... anyone in the US who can try this 800 number?
Contact Information
NATIONAL HEADQUARTERS
The Dhami Law Firm, P.C.
304 Park Avenue South
11th Floor
New York, NY 10001
Toll Free: (800) 906-2908
Facsimile: (877) 212-2298
Email: [email protected]
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