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After Failing to Comply with Bitcoin Liquidation Order, FTC Wants Eric Pinkston Held in Contempt

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After Failing to Comply with Bitcoin Liquidation Order, FTC Wants Eric Pinkston Held in Contempt

The Federal Trade Commission (FTC) recently took legal action against Eric Pinkston, who was accused of promoting a scam involving cryptocurrency, along with Thomas Dluca, Louis Gatto, and Scott Chandler. The lawsuit stated that the foursome was in violation of the FTC Act in this promotion. Though the founder of this effort was Dluca, the FTC issued an order for Pinkston to liquidate any of the cryptocurrencies that he held.

According to the news article, it does not look like Pinkston has actually done what the Order to Liquidate has said. As of April 26th, the FTC has filed with the courts to have Pinkston held in contempt. Prior to now, Pinkston and his cohorts had the opportunity to argue the liquidation, which they did. However, since they lose, the Order to Liquidate remains in effect.

The FTC states that the Pinkston has “willfully failed to comply” with the order. Along with asking that Pinkston be held in contempt, the FTC also has requested a show cause hearing. Pinkston has not had a positive time in court with this case, as even his lawyers attempted to quit in January, but the court denied the request.

At this point, nothing in the case has shown changes in Pinkston’s counsel. The criminal trial for the original charges is due on September 16th.

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