General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsOh NO! OMFG NO! Billionaire SUES Grampy, says his multi-million dollar Crypto investment was "procured through fraud"
Billionaire Justin Sun, who invested in a crypto project backed by President Donald Trump and his family, filed a lawsuit Tuesday in a California federal court, alleging that his multi-million dollar investment was procured through fraud and the project is now on the verge of collapse.
The Trump family businesses have been intertwined with various cryptocurrency endeavors for the past several years, raising ethical concerns about foreign influence and conflicts of interest. World Liberty Financial (WLF) is one of those entities and was involved in a $2 billion transaction by a state-owned United Arab Emirates firm, MGX, last year. Legal experts criticized the deal as a potential violation of the emoluments clause of the U.S. Constitution.
The management of WLF includes Trumps sons, Donald Trump Jr. and Eric Trump, and Zach Witkoff, son of Trump Middle East Envoy Steve Witkoff. The president is listed as the companys chief crypto advocate and his youngest son, 20-year-old Barron Trump, is named the DeFi (decentralized finance) visionary. In February, Donald Jr. and Eric Trump hosted a World Liberty Forum to promote the crypto firms offerings.
Sun was among the investors in WLF, according to the 52-page complaint (embedded below) he and several of his corporate entities filed against World Liberty Financial in the U.S. District Court for the Northern District of California on Monday.
https://www.mediaite.com/lawcrime/breaking-billionaire-investor-sues-trump-crypto-project-for-fraud-says-its-on-verge-of-collapse/
Sanity Claws
(22,422 posts)What kind of dumbass would buy anything from a convicted fraudster who has bankrupted several companies and cheated at every aspect of life?
surfered
(13,863 posts)niyad
(133,273 posts)was dropped in February 2025, right after the current reign of terror began.
muriel_volestrangler
(106,404 posts)I don't think they suspended the investigation out of principle; the money was what it was "right after".
https://www.brennancenter.org/our-work/analysis-opinion/political-donors-should-not-be-above-law
niyad
(133,273 posts)Lovie777
(23,287 posts)more and more Americans want this asshole impeached.
chicoescuela
(3,135 posts)erronis
(24,162 posts)Attilatheblond
(9,071 posts)There are times I kinda wish I had succumbed to the family trait of living life in an alcohol haze.
Wednesdays
(22,877 posts)"No one worth billions ever earned that wealth themselves. Someone else, either directly or indirectly, earned it for them."
paleotn
(22,467 posts)Although that might help, its certainly not a requirement The main thing is simply being in the right place at the right time, with the goddess of probability smiling on them. Otherwise, all the MENSA folks would be swimming in cash. Theyre not.
Its like PowerBall. Sheer chance far outweighs skill. And like a lottery, theres thousands to millions who did the same sorts of things and didnt get rich. But we dont think about them. Just the people who won. Much of the hype around the billionaire class, specifically why theyre billionaires, is for the most part a case of survivorship bias.
Theyre not special. Just lucky. Add immorality and ruthlessness to the mix, and there you have it.
hlthe2b
(114,264 posts)With a reconstituted DOJ, one would hope a new DEM (DOG-willing) administration could take this on among all the other grift, corruption and criminal offenses...
Attilatheblond
(9,071 posts)The predator class has absolutely overwhelmed the system and are counting on the shear volume of misdeeds to give them cover.
mopinko
(73,813 posts)Johonny
(26,391 posts)The number one rule of white collar crime. This could be fun.
UpInArms
(55,140 posts)Is water wet?
JT45242
(4,071 posts)Shocking that Mango lied...who would've thunk it possible that the Trump crime family would lie and not deliver
Bluetus
(2,965 posts)All these schemes are simple transactions. You pay Trump. He uses his power corruptly to gave you a result.
But here's the corollary. This lawsuit is not about fraud. It is about forcing Trump to do what he promised. It will be settled out of court. The guy will get what he wanted, but Trump is nicking him for another million. "Hey, the price went up. What do you expect me to do? That's just inflation."
Baitball Blogger
(52,537 posts)Not the smartest idea. But watch to see if he removes the lawsuit after making up the losses after receiving advanced warning of another Trump trade manipulation.
Blue Owl
(59,376 posts)Wonder Why
(7,170 posts)Wounded Bear
(64,459 posts)What's this world coming to?
Wasn't that Bernie Madoff's major crime, cheating rich people?
EuterpeThelo
(412 posts)That's why Madoff is the one who was actually jailed for his crimes.
radical noodle
(10,664 posts)He invested in something trump backed? Seriously dude, you deserved it.
Aviation Pro
(15,668 posts)Your child raping, bag-'o-fuck baby daddy is about to throw you under the bus.
Wednesdays
(22,877 posts)RainCaster
(13,791 posts)Anyone who thinks crypto is a solid investment deserves to lose everything.
get the red out
(14,048 posts)honor among thieves.
cab67
(3,823 posts)drmeow
(6,003 posts)Dave Bowman
(7,311 posts)usonian
(26,012 posts)
among other things, like
his shoes getting dirty,
his pet snake getting "reptile dysfunction"
the weather
support socks ripping apart
Grok telling him to take a long walk on a short pier.