Kim K., Floyd Mayweather and More In Legal Trouble Over Ethereum Max
Celebrities who were quick to endorse the up and coming Ethereum Max (EMAX) token project may soon see themselves in a heaping of legal troubles.
Kim Kardashian, Floyd Mayweather, and Paul Pierce have found themselves the target of a lawsuit that alleges that the celebrities colluded with EMAX co-founders Steve Gentile and Giovanni Peroni to pump the price of the token and then dump it, essentially scamming late and unknowing investors in the project.
Ryan Huegerich, one of the unknowing investors of EMAX, has filed a lawsuit against the the celebrities stating that the “defendants touted the prospects of the company and the ability for investors to make significant returns due to the favorable ‘tokenomics’ of the EMAX Tokens, where in truth, defendants marketed the EMAX tokens to investors so that they could sell their portion of the float for a profit.”
The coin price has struggled to rebound anywhere near its May 2021 highs of $0.0000008 per EMAX token, and has long been considered to be a scam coin to lure unknowing investors in a false project using the Ethereum name.