CONST Settlement Frequently Asked Questions

Please note that the value of any crypto holdings you may have had was converted to dollars as of November 16, 2022, which was the day before MyConstant shut down active operation.  With this in mind, please contact us regarding any discrepancies between the estimated loss figure you received in the Notice and your own account records. Please be sure to provide any supporting documentation you have available in order to substantiate your claim.  

Email: [email protected]

Or by mail to: 

Mailing Address: 
Bhavsar v. Const LLC
c/o Kroll Settlement Administration LLC
P.O. Box 5324
New York, NY 10150-5324

In order to fund the settlement,  CONST will be establishing a Liquidating Trust and turning over all of its corporate assets into this Trust at the time the final settlement is approved.  MyConstant ceased being a growing concern in November 2022 and thus has no ability to generate new funds.  Accordingly, there are no additional funds that CONST could pay to settle this matter.  Rather, the settlement aims to secure the best outcome given this unfortunate situation by ensuring that the limited funds CONST does have are placed into the Trust and not spent on attorneys' fees defending this action.

The estimated settlement amount that you received in the Notice is only an estimate.  It is not final or determinative.  The final amount that you do receive (in one or more installments) could be more or less than this amount.  The final amount will be determined by a number of factors, including, but not limited to, other expenses CONST incurs prior to final settlement approval and what monies are recovered from the Prime Trust and Coin Lona bankruptcies.

The estimated settlement amount is based on CONST turning over all of its assets to the Trust as of the date the final settlement in this matter is approved.  There are no additional funds that could be generated from CONST, since it is no longer operating as a growing concern.  The earlier "plans" that CONST had were based on assumptions CONST had the time they were distributed.  Further, CONST terminated the prior plan all plan payments in the Fall of 2023. 
 

A class action lawsuit was filed against CONST LLC dba MYCONSTANT, CONSTANT, and CONSTANTP2P, Zon Chu, and Duy Huynh (the “Defendants”) alleging that Plaintiffs and other Class members invested certain sums of money based on the assurances, representations, and guarantees of Defendants.  Defendants failed to generate the investment returns it pitched to Plaintiffs and other Class Members which, as alleged in the Complaint, caused them to suffer damages. The complaint alleges that Defendants’ assurances, representations, and guarantees were made in violation of California law and duties and obligation owed to Plaintiffs and Class Members.

This lawsuit was filed seeking to recover the amounts lost by customers, and is currently pending in the Riverside County Superior Court under the name Amey Bhavsar, James Tang, Jason Hoffman, and Charles Arthur Carsten, individually and on behalf of all others similarly situated, vs CONST LLC dba MYCONSTANT, CONSTANT, and CONSTANTP2P, a Delaware limited liability company; Zon Chu, an individual; and Duy Huynh, an individual.

Defendants have denied any wrongdoing. 

The parties have concluded that it is in the best interests of the Class and the Defendants to settle the Action on the terms generally described below. Judge Harold W. Hopp of the Riverside County Superior Court has determined that the Action can proceed as a class action, for purposes of settlement only, with Plaintiffs Amey Bhavsar, James Tang, Jason Hoffman, and Charles Arthur Carsten serving as the representatives of the Settlement Class. The Court has granted preliminary approval of the settlement, subject to a final fairness hearing to be held on July 22, 2025.

The settlement resolves the issues for everyone in the Class, except for those people who make a valid request to exclude themselves from the Class. You do not need to take any additional action to participate in the settlement. Class Members are encouraged to confirm their address and choose a payment method by clicking the "Payment Election" button on this website.

Subject to approval by the Court, the settlement agreement calls for the liquidation or other monetization of Defendant MyConstant’s assets via a liquidating trust which, in turn, will make periodic cash distributions to customers according to the terms of the Settlement Agreement plus a payment of $200,000 by Defendant Huynh for Class Members.  The Settlement Amount will be distributed to all Class members who do not affirmatively exclude themselves from the Settlement.

Attorneys’ fees and costs, the costs of settlement administration, and a requested incentive award to Plaintiffs for their service as class representative are to be paid out of the Gross Settlement. These payments require Court approval and any amounts awarded are subject to the discretion of this Court. All remaining amounts shall be distributed to class members who do not affirmatively exclude themselves from the settlement. After subtracting the above-referenced items in the amounts requested, the Net Settlement is expected to result in a payment of approximately $4,000,000 to be distributed to Class Members. 

These payments will be distributed to the Class Members on a pro rata basis. That is, each class member will receive an amount based on the percentage of the Net Settlement that equals the percentage of their total losses suffered as customers of Defendants. 

If the Court approves the proposed settlement, it will enter a final judgment approving the settlement and dismissing the Action as to all Settlement Class Members. Once entered, that judgment will bind all Settlement Class Members, i.e. those members of the Class who have not requested to be excluded. Settlement Class Members will be bound by the Court’s judgment whether they believe the settlement to be favorable or not. All Settlement Class Members will be forever barred from prosecuting their own lawsuits against the Defendants, and shall be deemed to have released the Defendants from, all claims, causes of action, or losses of any kind based upon the losses suffered as customers of Defendants.

On July 22, 2025, at 8:30 a.m., a hearing will be held on the fairness of the proposed settlement. At the hearing, the Court will be available to hear any objections and arguments concerning the fairness of the proposed settlement. The hearing will take place before Judge Harold W. Hopp of the Riverside County Superior Court, located in Department 001 of the Historic Courthouse, 4050 Main Street, Riverside, CA 92501. 

You have the right to exclude yourself from the Settlement Class and the Settlement. If you wish to file an individual lawsuit or otherwise separately pursue your legal rights against the Defendants relating to the claims at issue in the Action, then you should exclude yourself from the class. Otherwise, there is no reason to do so. 

If you wish to be excluded, you must complete and send a written request containing your first and last name, address, signature, phone number, the last four digits your social security number for verification purposes, and a written statement that you do not wish to participate in the Settlement of this Action. A short statement of your reason for wanting to be excluded from the Settlement is also requested, but it is not required for your request to be valid. 

All requests for exclusion must be postmarked no later than 60 days after the notice you received was sent and must be sent to the Settlement Administrator:
                                                
                                            Bhavsar et al v. Const LLC et al
                                         c/o Kroll Settlement Administrator LLC
                                                         P.O. Box 5324
                                               New York, NY 10150-5324

If you timely and validly request exclusion from the Settlement Class, you will be excluded from the Settlement Class, you will not be bound by the judgment entered in the Action, and you will not be precluded from otherwise prosecuting any individual claim, if timely, against the Defendants based on the conduct complained of in the Action.

You have the right to object to this Settlement. Written objections must include your first and last name, signature, address, phone number, and last four digits of your social security number for verification purposes, and must state the basis for the objection.  All objections must be postmarked no later than 60 days after the notice you received was sent and must be sent to the Settlement Administrator at Re: Bhavsar et al v. Const LLC et al, c/o Kroll Settlement Administration, OBJECTIONS, P.O. Box 5324, New York, NY 10150-5324.

If a Class Member fails to submit a written objection or appear at the Final Approval hearing to make an oral objection, the Class Member will be deemed to have waived all objections and will be foreclosed from making any future objections – whether by appeal or otherwise – to the Settlement Agreement. 

This description of the Action is general and does not cover all of the issues and proceedings thus far. To see the complete file in the Action, including the parties’ settlement agreement, you should visit the office of the Clerk, Riverside County Superior Court, Historic Courthouse, 4050 Main Street, Riverside, California 92501. The Clerk will inform you how to obtain the file relating to this lawsuit for inspection and copying at your own expense.  You could also go to: https://epublic-access.riverside.courts.ca.gov/public-portal/.  The settlement agreement is attached to as Exhibit B to the Declaration of Jason Kane filed on November 22, 2024. A copy of the settlement agreement is also available here.

You may also contact Class Counsel by mail to: Jason Kane, 95 Allen Creek Road, Suite 1150, Rochester, NY 14618, or by email to [email protected] and copy to: [email protected]; or Daren Luma, 75 South Broadway, Suite 400, White Plains, NY 10601, or by email to: [email protected].