A non-fangbal token (NFT) project, Having NFT, has been accused by many investors at their founder misusing millions of dollars in profits from the project and closely tied bitcoin mining operation.
According to the May 14 court filing in Illinois, the plaintiff alleged that his former business partner, Jonathan Mills lied to transfer the assets from the Helling NFT and at least $ 3 million a holding company – Satoshi Labs LLC (East was known as Work Labs LLC) And were.
The plaintiff has sued the mills for fraud and violation of fidukari duty, claiming that he has not received any equity returns, which he promised.
He has also claimed that $ 1.46 million has been jointly collected from Solana and two NFT drops. Bitcoin blockchainBut his investment did not get any returns.
According to the plaintiff, Mills reportedly began to ghost him after some time, saying that he formed a flawless shareholder agreement to falsely supporting his claim that the holding company controlled the project assets.
The plaintiff said it was “prevailing with errors” to support their lies.
According to the allegedly flaw shareholder agreement, Mills had to get 67% equity shares Proof of work Labs (before he was later renamed in Satoshi Labs) while many other investors contributed to $ 20,000 to the company, which was only 2% in exchange for equity.
He allegedly assured him that his equity stakes would remain unchanged despite changing the name.
Mills also held 67% voting stake on all matters related to the work labs (at that time) evidence, while no other partner kept more than 2%.
Cointelegraph reached Mills, but did not get immediate response.
It is believed that much about NFT was not known
The Helling NFT project was born with a different idea, in which Mills initially discussed with the Wadi, Dustin Stamon, who initially established coordination with mills with first cooperation.
Despite the mills, he chased with the Helling NFT project, initially despite telling Steman that he had no money and no NFT-related experience To contribute to the project.
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“(Mills) had a desire to help pursue the project, and he was initially an idea,” the investor’s lawyer, the Inde Legal Group LLC’s Clinton Ind. told Law360.
“Even though it was not the final idea, but it accepted it, and … all enjoyed working together in those early stages.”
Hasling to ensure success, mills and streams of NFT project Recruitment of other investors, Now the plaintiff too, to attend NFT conferences in New York to assist everything from NFT art and social media marketing.
The plaintiff claimed that Mills also gave his girlfriend to invest in the Hashing NFTS project.
In addition to the violation of fraud and fidukari functions, the plaintiff also requested a creative trust on the project property and complete legal restoration.
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