• Logan Paul is being sued alongside four other people for allegedly instigating a crypto and NFT fraud scheme.
• The lawsuit was filed by two Houston based attorney firms on behalf of Don Holland, a Round Rock police officer who claims he was a victim of the scam.
• Paul denies having anything to do with the mishaps occurring with the platform, while Tom Kherkher of Tom & Associates is discussing turning this case into a class-action suit.
Logan Paul Sued Over Alleged NFT Fraud
Logan Paul, a YouTube influencer, is among five people getting sued at the time of writing for allegedly instigating a crypto and non-fungible token (NFT) fraud scheme. The lawsuit was filed by Houston based attorney firms Tom & Associates and Ellzey & Associates on behalf of Don Holland, a Round Rock police officer that allegedly fell victim to the scam (known as Crypto Zoo).
Crypto Zoo Allegations
Holland claims in court documents that Crypto Zoo was a rug pull. The platform allowed customers to purchase in-game NFTs that they could then use to garner items in an interactive game. However, it’s alleged that many of the individuals involved secretly made their own in-game purchases and sold them for profit without informing users. Additionally, some purchased NFTs did not lead to any rewards or profits and new NFTs were stopped from being issued without notice.
Lawsuit Representation Statement
A spokesperson for Ellzey & Associates put out the following statement: “Logan Paul and the co-defendants promised a product (this NFT ecosystem, the ability to change animals) and promoted it as an investment game that would make players money… We are confident this case will allow us to correct this wrong for Mr. Holland and other affected class members despite defendants’ efforts to bolt on waivers to their website ‚terms and conditions‘ ex post facto.“
Paul denied having anything to do with the mishaps occurring with Crypto Zoo in an interview, saying: “I will no longer be the scapegoat for anyone’s financial decisions… I know I never scammed anybody, never made any money, never sold any tokens, and I only had best intentions going in.”
Class Action Suit Discussion
Tom Kherkher of Tom & Associates mentioned he has already begun discussing turning this case into a class action suit with alleged Crypto Zoo victims from all over world. He said: “We are committed to getting justice for these consumers who were taken advantage off“.