Logan Paul and his associates have been accused of engaging in fraud in the sale of non-fungible tokens (NFTs).
The proposed class action alleges that Paul and his associates misled consumers into purchasing the tokens by falsely claiming that they would receive certain benefits, when in reality the project never materialized.
The suit further alleges that Paul and his associates transferred millions of dollars of crypto into wallets they controlled and did not disclose their “material failures” to purchasers.
Additionally, the Plaintiffs allege that Paul and associates engaged in fraudulent representation, a conspiracy to commit fraud, violated Texas’ Deceptive Trade Practices Act, and engaged in unjust enrichment.
If the suit is successful, 20,000 token holders of CryptoZoo’s NFTs may be entitled to relief, including punitive damages.
