While the high-profile lawsuit against CSIS and related actors garners significant attention, Equibit Group Ltd. and its principals have been simultaneously pursuing justice on a second critical front: alleged internal sabotage and defamation that contributed to the company’s collapse.
The 2021 Statement of Claim
On January 15, 2021, Equibit Group Ltd., Chris Horlacher, and Marc Godard filed a comprehensive Statement of Claim in the Ontario Superior Court of Justice (Court File No. CV-21-00654929-0000).
Key Defendants:
- Christian Saucier – Former Quality Assurance Director
- David McFadzean – Former Senior Software Engineer
- Bart de Groot, Abdelaziz Oulad Hadj, Valentin Ganev, and several anonymous online personas (John Doe defendants) accused of libel
Core Allegations
Against the Employee Defendants (Saucier and McFadzean):
- Breach of fiduciary duties and employment contracts
- Misappropriation of company property and assets
- Soliciting investors to start a competing venture
- Bad faith conduct during the company’s critical wind-down period
Libel Claims:
The claim alleges that multiple defendants published false and defamatory statements about Equibit, Horlacher, and Godard across the internet under both real names and pseudonyms. These statements allegedly damaged the company’s reputation at a time when it was fighting to survive.Damages Sought:
- $10,000,000 for breach of contract, fiduciary duty, conversion, and related claims
- $500,000 per libel defendant (multiple defendants)
- Aggravated and punitive damages of $1,000,000 each
- Tracing orders, preservation orders, and other equitable relief
Phase 2 of the Alleged Destruction Plan
This lawsuit represents what Chris Horlacher has described as the second phase of the campaign against Equibit. After external regulatory pressure (detailed in the OSC Experience memo) and alleged insider interference contributed to operational collapse in 2018–2019, certain former employees and investors allegedly moved to further dismantle the company’s reputation and remaining value through public defamation and asset disputes.
The timing is significant: the Statement of Claim was filed as Chris began escalating efforts to hold accountable those he believes played roles in Equibit’s downfall — both internally and through broader institutional involvement.
Connection to the Broader Case
This action complements the primary lawsuit against CSIS. Together, they paint a picture of a multi-pronged effort: external regulatory and intelligence pressure combined with internal betrayal and public smear campaigns to neutralize a promising Canadian blockchain innovation in securities technology.
The case remains active and forms an important part of the overall effort to recover damages and establish accountability for the events that led to Equibit’s dismantling.
Court Documents:
This lawsuit underscores a central theme in the Equibit story: the alleged use of both institutional power and internal betrayal to suppress innovative technology that threatened established interests.
If you believe companies and individuals should be protected from coordinated sabotage — whether from inside or outside — please share this post and follow the ongoing developments.
