Let's Go Brandon Crypto Lawsuit Has Trumpworld Influencers Running for the Hills [View all]

[Eugene]

Source: Daily Beast

‘DECEPTIVE AND UNFAIR’
Let’s Go Brandon Crypto Lawsuit Has Trumpworld Influencers Running for the Hills

A meme coin intended to own the libs has now spawned a class action suit from an investor who says he lost all his money—and Trumpworld names are among the defendants.

Noah Kirsch
Wealth And Power Reporter
Zachary Petrizzo
Media Reporter
Published Apr. 11, 2022 10:36PM ET

A new class action lawsuit filed by an investor in Trumpworld’s favorite “Let’s Go Brandon” meme coin claims that some of the token’s key players orchestrated a pump-and-dump scheme.

The news marks the latest bit of drama that has plagued the coin since its inception last year and which has persisted since the cryptocurrency relaunched in February. A number of former President Donald Trump’s most loyal fans bought into the crypto hype, only to see the value of their investments plummet.

Attorneys for the plaintiff, an investor in the coin named Eric De Ford, claimed that the token’s executives and insiders “made false or misleading statements” and “disguised their control over the [c]ompany.” Ultimately, the 79-page suit filed in Florida alleges, those insiders “cynically marketed the LGB Tokens to investors so that they could sell off their portion…for a profit,” even as the selloff caused the value of the coin to drop precipitously for the remaining crypto holders.

The defendants included the Trumpy hedge funder James Koutoulas, NASCAR, and conservative media personalities Candace Owens and David Harris Jr., among others.

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Read more: https://www.thedailybeast.com/lets-go-brandon-crypto-lawsuit-has-trumpworld-influencers-running-for-the-hills?ref=wrap