Bitcoin Latinum Loses Appeal Seeking Arbitration of Fraud Case

Bitcoin Latinum isn’t entitled to have a fraud suit filed against it sent to arbitration, the Sixth Circuit said Wednesday.

The plaintiffs never received the $500,000 worth of bitcoin they thought they bought through one of their cousins, who said he could get them a good deal. They paid Latinum the money and designated it for the cousin.

GIBF GP Inc., which does business as Bitcoin Latinum, argued that the plaintiffs were bound by its simple agreement for future tokens, Judge Richard Allen Griffin said in the unpublished opinion for the US Court of Appeals for the Sixth Circuit. But ...