Ayala Files $1.5 Million Securities and Fraud Lawsuit Involving Cryptocurrency Scheme in the U.S District Court of Puerto Rico

We just filed a lawsuit alleging over $1.5 million in losses for our client. The case alleges that the defendant, a Delaware company, misled our client regarding the potential returns of this crypto fund.

As alleged in the complaint, the defendants, taking advantage of the plaintiffs’ lack of knowledge of the cryptocurrency market, confidently promised the plaintiffs that they could easily beat the market by using their “three-fund strategy deployment.”

Moreover, the defendants made representations of the “excellent” past performance that would easily be repeated in the future. After repeated pitches to our clients, the defendants stated that the funds presented in the decks were the DNA Liquid Token fund (the “Main Fund”), High Yield LP fund (the “High Yield”), and Moonshot LP Fund I (“Moonshot”).

Relying on all these representations, the plaintiffs agreed to invest a total of $1.5 million. Cryptocurrency Cryptocurrency Cryptocurrency Cryptocurrency Cryptocurrency

Contrary to initial representations, the defendants unilaterally redirected all $1.5 million to the defendant’s Main Fund, never implementing the three-fund strategy discussed. Rather than making a return on their money, the plaintiffs’ funds shrank to less than $700,000.

As stated by attorney Eduardo A. Maura, “It is a classic case of abusive investment companies overpromising to obtain funds from wealthy individuals to then engage in reckless, if not fraudulent, investment practices resulting in the disappearance of funds. We will strongly seek redress for our clients.”

If you or someone you know needs legal assistance, please don’t hesitate to contact one of our experienced trial attorneys at 305-570-2208.

You can also contact our team directly at: arianna@ayalalawpa.com       

Schedule a case evaluation online here.

[The opinions in this blog are not intended to be legal advice. You should consult with an attorney about the particulars of your case].