Against an Israel-based blockchain platform predictions Stox and its founder, Moshe Hagege filed the lawsuit, which contains allegations of misuse of more than $4.6 million received from investors during the ICO. It is reported by The Times of Israel.
The lawsuit filed Thursday, January 24, in the District court of tel Aviv Chinese investor Javan Hu. According to the newspaper CTech, defendant also stands Yaron shawl, former chief financial officer Hulegu owned by venture capital firm Singulariteam Ltd.
As they say in the statement, Hu, he invested in a Stox about $3.8 million in cryptocurrency Ether, believing the promises of the white paper of the project that if it will attract in the course of krautsalat $30 million, the entire amount will be directed to the development of the platform. Also, the plaintiff expected that all this will eventually lead to an increase in the cost of the token Stox.
In August 2017 the Stox’s team announced the early completion of the ICO, collecting a total of 148 000 ETH ($34 million at the exchange rate at the time). Krausel the project promoted also the famous American boxer Floyd Mayweather.
However, according to Javan Hu, Moshe Hogeg invested in the development of Stox only $5 million of the collected amount, sending the remaining funds to other ICO and business projects. Also the lawsuit States that, Hoeg sold belonged to him tokens Stox before the date on which pledged to keep them, thereby causing damage to the value of the tokens that were available to other investors.
As the newspaper notes, the founder of Stox charges against him categorically denies.
Moshe Hogeg is also the co-founder of Sirin Labs, the creators of blockchain-smartphone Finney, Chairman of the Board of Directors of the blockchain, the company LeadCoin, as well as the owner of the football club “Beitar” from Jerusalem, which he bought in August 2018 for $7 million.
We will remind, in November 2018, the Commission on securities and exchange Commission (SEC) has fined Floyd Mayweather and music producer DJ Khaled for the ICO promotion company Centra Tech in social networks. At the same time, Mayweather has banned advertising any securities for three years, and DJ Khaled — two.
In December it was reported that Sirin Labs intends to abandon the development of hardware solutions and focus on software for smartphones.