Justice Goes Unserved – Musician DJ Khaled And International Boxer Floyd Mayweather Avoid Lawsuit By ICO Investors
While these two names are some of the more distinctive in the world, they are pure standouts for the wrong reasons in the cryptocurrency world. This is because Floyd Mayweather and DJ Khaled, along with two employees of the crypto payments company -Centra Tech – which attempted to prosecute a fraudulent ICO have had their case dismissed by a federal judge.
This is according to the newly released document from the court hearing in question, in which an omnibus order was issued on motions to dismiss by all four of the aforementioned parties: Mayweather, Khaled, Steven Sykes, and Steven Stanley. These four had previously been involved in the promotion and participation in the Initial Coin Offering of Centra Tech.
The motion dismiss was initially filed by Robert Scola, a federal judge from the Southern District of Florida. According to Scola, the plaintiffs involved were unable to prove that they were involved in the purchase of the Centra CTR tokens due to the actions of the accused individuals.
According to the order, which was issued as of Monday this week, Scola argued that one count, which was filed against both Mayweather and Khaled, held them under allegations of violations to the US’ securities laws. But, according to the analysis by Scola, the plaintiffs had failed to “to establish that Mayweather reached out to the Plaintiffs and successfully solicited Plaintiffs to purchase CTR Tokens.”
With regards to the further allegations placed upon Steven Sykes, Judge Scola further noted:
“The allegations against Sykes are based on his involvement with the website. The Complaint, however, is devoid of any specificity with regard to the content of the website, when the website was launched, the alleged misstatements on the website, who determined the content on the website, and if the Plaintiffs ever even visited the website.”
The three founders of Centra Tech have also since been sued by the US Securities and Exchange Commission under charges of fraud, according to the US Department of Justice.
This article is Originally posted on CoinCentral.com
Author: James F