Class Action
Dec. 4, 2023
Attorney says cryptocurrency lender withheld $2.5M loan
According to Michael L. Gabriel, representing himself in a putative class action, Blockas.com demanded that he pay a $5,000 “tax clearance fee” to exchange his loan from Bitcoin to U.S. dollars.
An attorney has accused Block Assets LLC, the company behind the cryptocurrency lending platform Blockas.com, of operating a Ponzi scheme and withholding a $2.5 million loan from him, according to a putative class action filed in federal court in San Francisco.
“Defendant’s actions constitute a Ponzi scheme wherein funds that should be delivered to their owners are instead kept and held without justification and used by the defendant witho...
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