Floyd Mayweather and DJ Khaled have been hit with a lawsuit from people who claim the stars participated in an illegal cryptocurrency scam that screwed investors out of millions of REAL dollars.
The coin at the center of the scandal is called Centra Tech — and, according to the class action lawsuit, Floyd and Khaled were influential celebrity endorsers who promoted the virtual currency on social media.
In fact, social media posts from Floyd encouraged people to buy the coin and he said he was so excited about it, “You can call me Floyd ‘Crypto’ Mayweather from now on.”
To: All persons or entities who purchased or otherwise acquired Cloud Tokens (“CLD Tokens”) pursuant to Cloud With Me Ltd.’s Initial Coin Offering which began on approximately July 25, 2017 and was ongoing as of June 19, 2018. You are hereby notified that Levi & Korsinsky has commenced the action Balestra v. Cloud With Me Ltd. (Case 2:18-cv-00804-LPL) in the United States District Court for the Western District of Pennsylvania. To get more information go to:
or contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that Cloud With Me violated Sections 12(a)(1) and 15(a) of the Securities Act of 1933, by engaging in interstate commerce for the purposes of offering, selling, or delivering unregistered securities. The complaint alleges that the CLD Tokens constitute securities by virtue of defendants’ assertions that the CLD Token would increase in value as it became the “standard currency” for the Company’s yet-to-be-created decentralized cloud network as well as the continuous focus in Cloud With Me’s marketing campaigns on the “significant liquidity” CLD Token would have as it became listed on multiple virtual currency exchanges.
If you purchased CLD Tokens pursuant to the ICO you have until August 20, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
One of the world’s most prominent promoters of initial coin offerings is calling it quits.
John McAfee, the anti-virus software pioneer turned cryptocurrency evangelist, said in a tweet on Tuesday that he will stop recommending ICOs because of unspecified “threats” from the U.S. Securities and Exchange Commission.
“Due to SEC threats, I am no longer working with ICOs nor am I recommending them, and those doing ICOs can all look forward to arrest,” McAfee wrote from his verified Twitter account, which has more than 820,000 followers. “It is unjust but it is reality. I am writing an article on an equivalent alternative to ICOs which the SEC cannot touch. Please have Patience.”
Today, we have a class action lawsuit filed against the Centra ICO on behalf of Plaintiff Jacob Zowie Thomas Rensel.
The Centra ICO received the tacit endorsement of Boxing Champion Floyd Mayweather, sometimes know as “Floyd Crypto Mayweather” was joined by world famous rapper DJ Khaled that “led to a patina of credibility,” according to the New York Times. Of course, this is just nice talk meaning they pumped the ICO on their social networks.
Hagens Berman Sobol Shapiro LLP, has filed a class action in the Northern District of California on behalf of investors to recover the bitcoin (BTC), Ethereum (ETH) and fiat currency paid in the Tezos Initial Coin Offering (“ICO”). The complaint, which names Defendants Dynamic Ledger Solutions, Inc. (DLS), Tezos Stiftung (aka the “Tezos Foundation”), Kathleen Breitman, Arthur Breitman, Timothy Cook Draper, Draper Associates, Johann Gevers, Diego Ponz, Guido Schmitz-Krummacher, Bitcoin Suisse AG, and Niklas Nikolajsen, alleges that Defendants illegally sold unqualified securities in violation of California’s Corporate Securities Law of 1968 (Cal. Corp. Code § 25110) and California’s Unfair Competition Law (Cal. Bus. & Prof. Code § 17200 et seq.). In doing so, Defendants collected approximately $232 million USD worth of cryptocurrencies from investors (primarily Bitcoin and Ethereum), now worth over $1.2 billion USD.