Mark Cuban has been sued for misrepresenting Voyager’s crypto products and services using his experience and misleading users.
Millionaire Mark Cuban, who has been active in the crypto space for the past few years, has been sued for his promotions about crypto brokerage firm Voyager. Law firm The Moskowitz sued Cuban in the United States District Court in South Florida for promoting Voyager products. The Moskowitz also requested that the case be heard by the jury.
Allegedly Mark Cuban Misrepresented Voyager!
Businessman Mark Cuban, who was sued for misdirecting investors about Voyager, is one of the most active names in crypto. Misleading investors because of his interest in crypto, Cuban made publicity about it being cheaper than other products and no commission fees, according to the lawsuit. In the lawsuit, Cuban, along with Voyager Digital CEO Stephen Ehrlich, used the life savings of users who have no experience in cryptocurrency investment to encourage Voyager, among the strong allegations in the lawsuit.
Here is an excerpt from the case on this subject:
Cuban and Ehrlich have encouraged millions of Americans to invest their savings in the Voyager Platform. They’ve gone to great lengths to use their experience to trick the Voyager Platform and into buying an unregistered security, Voyager Earnings Program Accounts (‘EPAs’).
The lawsuit also says Cuban continues to create hype on Voyager products and encourages individual investors to invest their money here. Cuban’s statement about Voyager as “the safest way to get into crypto” was also recorded.
Voyager was one of the top lenders to Three Arrows Capital, which would later go bankrupt. The crypto lending firm stopped trading and withdrawals on July 1. He then filed for bankruptcy on July 5. More than 3.5 million Americans currently have $5 million of savings frozen on the platform.
