Colo. Atty Accused Of Losing $3.1M Meant For Bitcoin Buy

Law360 (July 17, 2020, 3:57 PM EDT) -- A Colorado attorney hired to handle a $3.1 million bitcoin investment bungled the transaction and transferred the funds without receiving the bitcoin in exchange, Florida-based financial services firm One Trade Ltd. alleged in a complaint filed Thursday.

One Trade, owned by Simon Librati, told a Florida federal court that solo practitioner John Glenn violated their verbal agreement by breaking escrow and releasing the funds before the seller, Diversified Artificial Intelligence Technology Group LLC, produced the bitcoin.

While One Trade believes the money was transferred to Diversified, Glenn has not confirmed where the funds actually are, the financial firm said in its...

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