Tweet
Floyd Mayweather Sued Over Alleged ******currency Scam
MZ SPORTS -- Floyd Mayweather and DJ Khaled have been hit with a lawsuit from people who claim the stars participated in an illegal ******currency scam that screwed investors out of millions of REAL dollars.
The coin at the center of the scandal is called Centra Tech -- and, according to the class action lawsuit, Floyd and Khaled were influential celebrity endorsers who promoted the virtual currency on social media.
In fact, social media posts from Floyd encouraged people to buy the coin and he said he was so excited about it, "You can call me Floyd '******' Mayweather from now on."
The problem ... the Securities and Exchange Commission says the company behind the coin was operating illegally, misleading investors and claims several of the execs listed on the company website don't really exist.
The founders of the company were arrested back in April and are facing several charges including securities fraud, wire fraud and some conspiracy charges.
One interesting note from the lawsuit -- investors say the value of the coin has plummeted over the past year. It was worth roughly $1 per coin in February and after the arrests in April, it's dropped to less than $0.02 per coin.
The coin at the center of the scandal is called Centra Tech -- and, according to the class action lawsuit, Floyd and Khaled were influential celebrity endorsers who promoted the virtual currency on social media.
In fact, social media posts from Floyd encouraged people to buy the coin and he said he was so excited about it, "You can call me Floyd '******' Mayweather from now on."
The problem ... the Securities and Exchange Commission says the company behind the coin was operating illegally, misleading investors and claims several of the execs listed on the company website don't really exist.
The founders of the company were arrested back in April and are facing several charges including securities fraud, wire fraud and some conspiracy charges.
One interesting note from the lawsuit -- investors say the value of the coin has plummeted over the past year. It was worth roughly $1 per coin in February and after the arrests in April, it's dropped to less than $0.02 per coin.