CoinDeal Defendants Lose Bid to Transfer Investment Fraud Case

Two men accused of fraudulently soliciting more than $45 million from more than 10,000 “CoinDeal” investors will be tried in Nebraska, after a federal court in the state rejected their bid to transfer the case to Nevada.

Florida, Nebraska, Nevada, and California are all proper venues, based on the allegations, but there is a presumption in favor of the forum selected by prosecutors, and the defendants failed to overcome it, the US District Court for the District of Nebraska said.

Defendants Neil Surech Chandran and Bryan Lee argued that litigation would be more convenient in Nevada, where they, and their ...