• Logan Paul, a YouTube influencer, is being sued for allegedly instigating a crypto and 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 fell victim to the scam.
• Paul denies he had anything to do with the mishaps occurring with the platform and Tom Kherkher of Tom & Associates will be looking into turning this case into a class-action suit.
Logan Paul Sued Over Alleged NFT Fraud
A YouTube influencer, Logan Paul, is being 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 representing Don Holland, a Round Rock police officer that fell victim to the scam.
Details of Crypto Zoo
Crypto Zoo was an online platform where customers could purchase in-game NFTs which they could then use to garner items in an interactive game. Holland claims in court documents that many of the individuals involved in establishing the game made their own in-game purchases without informing users of the platform and sold them for profit. Additionally, some NFTs purchased by users did not lead to any rewards or profits while developers suddenly stopped creating new ones without any notice.
Statement from Ellzey & Associates
A spokesperson for Ellzey & Associates released a statement claiming that Logan Paul promised a product (this NFT ecosystem) as an investment game that would make players money but there actually was no product or plan established when words were spoken to unsuspecting consumers who invested millions collectively into Crypto Zoo.
Paul responded by denying he had anything to do with the mishaps occurring with Crypto Zoo saying: “I know I never scammed anybody, never made any money, never sold any tokens”. He feels he is being used as a scapegoat for other people’s financial decisions.
Class Action Suit?
Tom Kherkher of Tom & Associates stated his team has begun discussing this case with alleged victims from all over the world about turning it into class action suit in order to get justice for those affected by this fraud scheme.