Cristiano Ronaldo allegedly slapped with a lawsuit
‘Deceptive and unlawful’: Cristiano Ronaldo has allegedly been named in a lawsuit with the cryptocurrency exchange, Binance.
Former Manchester United forward and current Al-Nassr star Cristiano Ronaldo has allegedly been named in a $ 1 billion (an estimated R18.5 billion) lawsuit in the United States recently over his alleged involvement with the cryptocurrency exchange, Binance, Mirror reported.
YIKES! CRISTIANO RONALDO ALLEGEDLY GETTING SUED
According to the publication, in November 2022, the 37-year-old football star is said to have released a CR7 range of non-fungible tokens (NFTs) in collaboration with Binance. The cheapest token was said to have gone from $77 (an estimated R1 400) in 2022 to be worth only $1 (R18) the following year.
The lawsuit was reportedly filed on Monday in a federal court in the Southern District of Florida and reportedly alleges that Ronaldo’s promotion of Binance was “deceptive and unlawful”, The Guardian reported. The lawsuit is also said to seek damages for the footballer’s role in promoting the cryptocurrency-related “non-fungible tokens.”
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EISH! MORE ABOUT THE FOOTBALLER’S REPORTED LAWSUIT
According to the publication, the plaintiff claimed that Binance’s partnership with Cristiano Ronaldo and other high-profile figures led them to a costly and unsafe investment resulting in loss.
“Evidence now reveals that Binance’s fraud was only able to reach such heights through the offer and sale of unregistered securities, with the willing help and assistance of some of the wealthiest, [most] powerful and recognised organisations and celebrities across the globe – just like defendant Ronaldo,” a part of the lawsuit was quoted as saying.
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According to BBC, the class action suit was filed a week after the US Justice Department told Binance to pay $4.3 billion (an estimated R75 billion) in penalties and forfeitures, accusing the firm of helping users bypass sanctions and allowing criminals and terrorist to make quick and easy money. Since then, its chief executive, Changpeng Zhao, was reported to have resigned – this comes shortly after allegedly admitting to money-laundering violations.
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