By: Sean Crose
A New Yorker named Ryan Huegerich is taking Floyd Mayweather and Kim Kardashian to court for advertising for what is known as a crypto-related “pump and dump” scam. According to the complaint, which was filed as a class action in California, Huegerich and others “suffered investment losses as a result of Respondent’s conduct” related to the EMAX cryptocurrency. The people behind EMAX, as well as Mayweather, Kardashian, and former Celtic star Paul Pierce are being named. Huegerich claimed these parties engaged in “illegal enrichment” by “supporting and abetting” the aforementioned pump and dump scheme.
Whether these allegations are true or not will be decided by the court. “The scam report regarding recent allegations related to misinformation about the EthereumMax (EMAX) project,” an EMAX representative announced. Rolling Stone (reported on the story) by email. “This project has prided itself on being one of the most transparent and communicative in the crypto space. We oppose the allegations and look forward to the truth being exposed.”
Rolling Stone reports that “EMAX has announced that it is ‘crypto-exclusive’ to purchase tickets to the then-upcoming boxing match between Floyd Mayweather and Logan Paul – a scheduled pay-per-view event. on June 6. In a press release, the company provided a link to a fighting website that lists many perks for buying tickets with EMAX. ” Based on Rolling Stone, the lawsuit states that “a few days before the bout, on June 4, Mayweather and members of his entourage wore EMAX T-shirts while attending a Bitcoin conference in Miami .” It also quotes Mayweather as saying that “one day there will be another cryptocurrency as big as Bitcoin” and wearing the EMAX logo on his barrel during his fight with Paul.
In one posts before the fight with Paul last June, Boxing Insider reported that Mayweather “seems to have surprised some people when he sang crypto hymns during an interview with Fox Business Network’s Susan Li. “Cryptocurrency,” he said. “It’s the new wave, that’s what people are doing.” Of course, praising cryptocurrencies is not necessarily the same as participating in an illegal scheme. “Everybody should have their own mind and choose the cryptocurrency they want to choose,” Mayweather told Li last year. “What I believe in is being independent and doing what you want to do and it’s about the winners in life. And I push people to be winners in life. Because I’m the winner. ”
