Claims Australian crypto celebrity owes investor half a million dollars

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An Australian cryptocurrency celebrity is sued for nearly half a million dollars by an investor who claims he received no goods or services in return.

Key points: Nugget’s News CEO Alex Saunders is accused of not being able to return the money.

New Zealand investor Ziv Himmelfarb has launched a lawsuit against Nugget’s News founder Alex Saunders, claiming $ 479,270.16 in losses and damages for money he allegedly loaned him and invested in a cryptocurrency project to be carried out.

Mr Saunders, based in Launceston, did not respond to the ABC about allegations he owes his followers money, which were made on social media.

Mr Saunders is a former pharmacist who runs a digital media channel that “provides unfiltered coverage of the latest developments in cryptocurrency, housing, precious metals, commodities, stocks and other markets. financial “.

Popular crypto influencer Alex Saunders has been accused of failing to refund money owed to his followers. (

source: www.nuggetsnews.com.au

)

In the statement filed with the Supreme Court of Victoria by Mr Himmelfarb, he alleges that Alex Saunders contacted him via a Facebook message in February and offered him an interest in a “long / short crypto fund”.

Mr. Himmelfarb alleges that he transferred 4 bitcoins to Mr. Saunders, which at the time were valued at $ 269,682.14.

In April, Mr Saunders allegedly asked Mr Himmelfarb to invest in a “DCB project” and received the equivalent of $ 65,282.67 in US dollar coins, which is a digital currency.

It is alleged that Mr. Saunders did not provide any goods or services to Mr. Himmelfarb for the transferred digital currencies, nor did he return the money despite requests to do so.

Mr Himmelfarb alleges that she requested cancellation of the contracts in July and demanded that Mr Saunders return the bitcoins in August.

Nugget’s News provides analysis on cryptocurrencies like Bitcoin. (

Pexels: Global Spectrum

)

“Wrongly, the defendant failed and / or refused to transfer the Bitcoins and the USD coins to the plaintiff,” reads the summons filed with the commercial division of the Supreme Court.

Mr. Himmelfarb further alleges that he also transferred 30 ETH coins from Mr. Saunders in May by way of a loan, with an equivalent value of $ 144,305.35.

“Wrongly, in violation of the terms of the ETH coin loan, the defendant failed and / or refused to transfer the ETH coins to the claimant,” the document reads.

The $ 479,270.16 in loss and damage Mr. Himmelfarb is claiming from Mr. Saunders includes the monetary value of Bitcoins, USD coins and ETH coins, as well as interest and fees.

Mr Saunders has yet to file a defense against Mr Himmelfarb’s claims and has been contacted by the CBA for comment.

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