Following a class action lawsuit filed earlier this year, Hollywood icon Kim Kardashian and sports superstar Floyd Mayweather Jr. are implicated in a crypto scam that is now headed to the courts.
The celebs are accused of colluding with Ethereum (EMAX) co-founders Steve Gentile and Giovanni Perone, according to a class action lawsuit filed last week in federal court in California. According to the lawsuit, this was part of a well-planned pump-and-dump scheme that “caused investors to purchase these losing investments at inflated prices.” According to the lawsuit, the scheme’s creators intended to defraud unsuspecting investors by persuading them to buy an asset based on misleading information. As a result, investors purchase the already pumped price while pumpers sell off, causing the price to fall. Paul Pierce, a former NBA player, is also named in the lawsuit.
Kardashian pushed EthereumMax to her 250 million Instagram followers in June of last year. “Are you guys into crypto??,” Kim asked in one of her captions. “This is not financial advice; instead, I’m relaying what some of my friends told me about the Ethereum Max token! Ethereum Max burnt 400 trillion tokens—roughly half of their admin wallet—a few minutes ago, giving back to the whole E-Max community”, She further stated.
Floyd Mayweather, who has been a prominent name in crypto in general, has also endorsed the currency on numerous occasions, including right before and during his exhibition boxing battle with YouTube star Logan Paul in June of last year. The EthereumMax token is the “only cryptocurrency accepted for online ticket purchasing” for the event, according to EthereumMax administrators.
Will they be found innocent or guilty?, let’s see.
