Crypto Market Maker Sues Fr8 Token Issuer For $1.8M
By Dean Seal (January 17, 2020, 4:53 PM EST) -- A global cryptocurrency market maker and an investor filed a $1.8 million lawsuit in New York federal court accusing Fr8 Network Inc. and two principals of fleecing them with a fraudulent token offering.
GSR Markets Ltd. and Paul Rogers said in their complaint Thursday that Jonathan Fox and Sloan Brakeville, the co-founders of Fr8, had promised that GSR and Rogers' investments of roughly $830,000 worth of Ethereum would secure them a trove of Fr8 utility tokens for use on the company's forthcoming trucking industry-oriented marketplace, the Fr8 Board.
No tokens were delivered at the time of that February 2018 investment, however,...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!