Gemini Co-founder Cameron Winklevoss threatens to take legal action against DCG and its CEO Barry Silbert for defrauding over 340,000 Earn users.
Cameron Winklevoss’s latest statements came in the wake of Genesis Global Capital filing for bankruptcy protection as he noted to his Twitter followers that this is a crucial step towards being able to recover their assets.
“While we have been working around the clock to negotiate an acceptable solution, @BarrySilbert and @DCGco — the parent company of Genesis – continue to refuse to offer creditors a fair deal,” Winklevoss tweeted.
A few days back, Gemini Co-founder Cameron Winklevoss wrote two open letters against Barry Silbert, the second one asking for the latter’s resignation from DCG. The US SEC also charged Gemini and Genesis for selling unregistered securities to the public.
Cameron Winklevoss noted the bankruptcy filing is good news as Genesis will now be subject to judicial oversight and be required to provide discovery into the machinations.
The co-founder added that unless Barry Silbert and DCG come to their senses and make a fair offer to creditors, Gemini will be filing a lawsuit against both imminently.
Cameron Winklevoss assured that they will use every tool available in the bankruptcy court to maximize recovery for Earn users and any other parties within the bankruptcy court’s jurisdiction.
“This marks an important milestone in our efforts to help Earn users get their assets back. Doing so remains our highest priority,” Winklevoss added.
