A US court has accused model and actress Kim Kardashian, boxer Floyd Mayweather Jr., and basketball player Paul Paris of fraud and embezzlement for establishing a fraudulent currency.
According to the complaint, the three Cell Brits were allegedly advertising Ethereum Max through their social media profiles and other ways. However, the value of Ethereum Max has dropped by 98 percent in recent days, causing thousands of sports and entertainment fans to lose millions of dollars.
The plaintiffs in the action have accused Kim, Mayweather, and Paul Pierce of supporting the “pump and dump” scam, according to US media reports. It’s a deceptive financial strategy in which investors earn handsomely by selling their shares after artificially inflating their value.
After Mayweather and Paul Pierce endorsed Ethereum Max, its value surged by 632 percent. May Weathers, a boxing champion, also wore Ethereum Max’s site address on her shorts during an exhibition battle. Paul Paris, a basketball player, endorsed the coin on Twitter.
The parties have accused the third-party candidate in the complaint, Britty Kim Kardashian, of posting about Ethereum Max on their Instagram stores and pushing people to acquire the token.
According to a recent poll, 19% of respondents bought Ethereum Max after hearing about Kim Kardashian’s article.
The value of this counterfeit money plunged by 98 percent the day following Kim Kardashian’s article. And the developer of this coin’s wallet activity demonstrates that he sold all of his coins before the cryptocurrency’s value plummeted.
