Crypto Casino Stake.com Sued For $400 Million By Former Partner

A former partner of Stake.com who claims he was excluded from the wildly successful company is suing the Australian creators of the largest bitcoin casino in the world in the US for $400 million in damages.

The former partner Christopher Freeman reportedly filed a civil lawsuit in the Southern District of New York. In his filing, he was seeking $400 million in punitive damages and claimed that he was deceived into straying away from the formulation of Stake.com.

The founders of Stake.com, Ed Craven and Bijan Tehrani, were called to account for their extravagant lifestyles and freshly acquired costly homes. He mentioned that the company had handled wagers worth around $100 billion. All of this was used by Freeman to emphasize the Bitcoin casino’s success.

In 2013, after meeting Craven at school, they made the decision to launch Primedice, an online casino. Tehrani and Craven had 40% of Primedice, while Freeman had 20% ownership. According to reports, this arrangement matched their initial investments.

Freeman’s ownership, however, was reduced to just 14% in just nine months. In order to reward other members of the development team, this was done. While Freeman did not take kindly to this, he had already proposed the notion of a cryptocurrency casino in 2016. Freeman claimed that, given the anxiety surrounding rules, the other two seemed to be relatively uninterested.

In an unexpected change of events, the pair chose to move on with Stake.com, leaving Freeman completely out in the cold. Tehrani and Craven urged Freeman to move to Australia if he intended to be a part of the crypto casino.

“Later, when Stake.com launched as a virtual casino which included a competing online dice game and many other features Freeman had proposed and helped design, Tehrani and Craven affirmatively tried to assuage Freeman’s dismay at having been misled by affirming that he still retained his stake in Primedice.”

Freeman’s court filing wrote

The founders of Stake.com were adamant about how Freeman’s claims were false. The firm even suggested that the lawsuit was desperate to spread incorrect information.

“The complaint filed by Chris Freeman contains allegations that are internally inconsistent, intentionally misleading, and provably false.”

The statement further read

The company declared that it will resist Freeman’s pressure and maintain its position. The Bitcoin casino’s creators had a lot of faith that the court would quickly dismiss Freeman’s claims.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Foxy

CoinCu News