The crypto-currency supported by Floyd Mayweather is facing many lawsuits

Centra, a start-up that has raised more than $ 30 million this year thanks to a ICO, is the subject of a lawsuit. This start-up has been promoted by many stars, including boxer Floyd Mayweather Jr. The legal action seeks, in particular, to recover the funds from investors. Mayweather is not cited in the lawsuit, dating back to the 13 December, which alleged that the founders of Centra have made multiple false statements and sold as illegal.

Chamber of Fear, Wikimedia Commons

The lawsuit, filed before the court of first instance of the United States in Florida, is to obtain the repayment of investors of Centra. From July to October, they were exchanging crypto-currencies such as Bitcoin, Ether and Litecoin, against a new digital currency created by Centra.

A clear case for Centra

The ICO similar have helped raise billions of dollars this year. Organizers say in most cases they sell tokens to utilities that are not securities. It may be that we turn to other projects of this kind, but the situation of Centra seems particularly egregious. The trial confirms that Centra has made numerous false statements, including the fact that it has signed an agreement with Visa to the creation of his card.

Below is a preview video highlighting this case :

The New York Times reported in late October that Centra had not entered into any agreement with Mastercard or Visa. Still according to this media, Centra would not experience apparent in the field of crypto-currencies.

That is the support of Mayweather ?

Centra has alleged at Times that the support of Mayweather for this project was a business relationship on the long term. Furthermore, the spokesperson for the boxer said that this was really just a collaboration in the short term.

Besides, Mayweather has removed many publications promoting the project on social media.

Source : Fortune