Dallas Mavs' Mark Cuban Sued Over Alleged 'Ponzi Scheme'
as many have rethought their crypto-investments amid rising inflation.
Plaintiffs in the Cuban suit are asking for a jury trial. They say Ehrlich and Cuban each “made a plethora of false and misleading public statements” in an attempt to persuade everyday investors to keep pumping money into the crypto platform. “Importantly, although Cuban disclosed the partnership between Voyager and the Dallas Mavericks, he has never disclosed the nature, scope, and amount of compensation he has personally received in exchange for the promotion of the Deceptive Voyager Platform,” the suit states, adding that “a failure to disclose this information would be a violation of the anti-touting provisions of the federal securities laws.
The billionaire also once talked crypto with then-Mavs player Jalen Brunson during a press conference. Cuban said first-time investors should be careful when spending their own money before further hyping Voyager.
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