The plaintiff claimed he loaned the crypto influencer some money in May but could not get his money back hence he’s suing the defendant, according to him, “It was a no-brainer for me to trust him.”
An unhappy fan of Australian crypto influencer Alex Saunders’ YouTube program and advising service Nuggets News has filed a lawsuit against him.
The plaintiff, Ziv Himmelfarb of New Zealand, issued a formal written order in the Victorian Supreme Court on Wednesday requesting that Saunders pay $479,270 ($353,027) in losses and damages for unpaid loans and investments that have yet to materialize.
Himmelfarb told the Australian Financial Review on Thursday that he has been following Saunders’ cryptocurrency commentary since 2017, saying, “He made some excellent calls and to me, he was the No. 1 guy to follow in the crypto world.”
“It was a no-brainer for me to trust him.”
Himmelfarb claimed to have invested 4 Bitcoin (BTC) with Saunders on February 17 after the influencer gave him access to a crypto fund via Facebook Messenger. At the time, the BTC invested was valued $198,646.
Saunders then urged Himmelfarb to invest $50,0000 in stablecoins in his upcoming stable token project, DCB, according to Himmelfarb. The complainant claims that Saunders lacks the necessary licensing to sell financial products to the general public.
In May, Himmelfarb claimed that he also loaned 30 Ether (ETH) to Saunders after the YouTuber sought assistance with “liquidity concerns.”
“I was happy to help with a short-term loan when he told me he was having temporary financial concerns in May, but I haven’t received any of my money since then. “Hopefully, I’ll be reimbursed,” Himmelfarb added.
According to Cointelegraph, Saunders was in deep water last month after allegations arose that he owed substantial quantities of Bitcoin to his pals, as well as suspicions that cash deposited in DCB were routed to crypto exchanges like FTX.
