Blockstart Ventures Mgmt and owners Raman Bindlish and Nicholas M. Mavris were sued for securities fraud on Feb. 26 in California Northern District Court. The suit was brought by McDermott Will & Emery on behalf of investor Pritesh Patel; according to the complaint, the defendants induced the plaintiff to invest $5 million to purportedly fund early-stage crypto companies, but the defendants instead used the funds to engage in speculative crypto trading and speculation. Counsel have not yet appeared for the defendants. The case is 3:24-cv-01158, Patel v. Blockstart Ventures Mgmt LLC et al.
Cryptocurrency
February 26, 2024, 4:40 PM