US EditionMelania Trump Used as ‘Window-Dressing’ in Elaborate Memecoin Fraud, Legal Filing Claims
- On Tuesday, plaintiffs filed an amended complaint alleging First Lady Melania Trump was used as `window dressing for a crime engineered` in a memecoin fraud, without naming her as a conspirator.
- Evidence shows the scheme relied on a repeatable six-step 'playbook' for pump-and-dump fraud, with Benjamin Chow and Hayden Davis leveraging celebrity association and 'borrowed fame' across at least 15 crypto coins including Melania Trump and Javier Milei.
- Market data show the $MELANIA token surged 12-fold to a $1.6 billion peak before losing 95% of its value and trading at about $0.09346 on Wednesday.
- Plaintiffs, cryptocurrency investors represented by Burwick Law, seek disgorgement, injunctions, and an independent receiver over Meteora, while Burwick Law says a win could clarify token launch rules in the US.
- Plaintiffs argue that Meteora and Kelsier Labs allegedly used sniper crypto wallets to corner nearly a third of $MELANIA's supply, expanding harm to mainstream consumers beyond crypto traders.
36 Articles
36 Articles
Melania Trump, Argentina's Javier Milei Not Responsible For Meme Coin Fraud, Revised Complaint States: 'Were Used As Props'
Plaintiffs in a class action lawsuit have lodged an updated complaint against Meteora and its co-founder, Ben Chow in connection with the controversial launch of Official Melania (CRYPTO: MELANIA) and LIBRA (LIBRA) meme coins. Plaintiffs Allege Chow Is The Mastermind The plaintiffs asserted that…
The creators of the cryptocurrency launched by US First Lady Melania Trump in January are accused in court documents filed on Tuesday of organizing the operation knowing that the value of the digital currency would fall.
'Window dressing for crime': Lawsuit calls Melania meme coin massive scam as value craters
The creators of the official meme coin of First Lady Melania Trump are being accused of engaging in a sophisticated fraud scheme in a lawsuit filed by cryptocurrency investors.As reported by Wired on Tuesday, the allegations against the creators of the Melania coin came as part of a proposed amended...
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