Lawsuit accuses Mark Cuban of duping investors with crypto 'Ponzi scheme'

A new lawsuit accuses billionaire Shark Tank investor Mark Cuban of partnering with now bankrupt crypto platform Voyager Digital to dupe investors in “a massive Ponzi scheme.”

A class-action lawsuit filed on Wednesday on behalf of millions of investors alleges that 3.5 million Americans lost over $5 billion dollars in cryptocurrency assets through Voyager. It says the scheme depended on vocal and monetary support from Cuban.

Stephen Ehrlich, CEO of Voyager, and the Dallas Mavericks, the NBA team owned by Cuban, are also listed as defendants. The lawsuit says that Cuban, Ehrlich and the Mavericks should pay the victims back.

“Cuban and Ehrlich, as will be explained, went to great lengths to use their experience as investors to dupe millions of Americans into investing — in many cases, their life savings,” the lawsuit claimed.

Read more: https://www.dallasnews.com/business/entrepreneurs/2022/08/11/lawsuit-accuses-mark-cuban-of-duping-investors-with-crypto-ponzi-scheme/