Theta Labs is being sued, with allegations that the company and its CEO manipulated the price of the $THETA token.
Two former senior executives of Theta Labs have filed whistleblower lawsuits, accusing the company and CEO Mitch Liu of long-running fraud and manipulation of the THETA token price.
On December 17, Jerry Kowal and Andrea Berry each filed separate lawsuits in Los Angeles Superior Court as whistleblowers.
The complaints allege that Mitch Liu used Theta Labs and its parent company, Silver VR Technologies, as personal trading vehicles, inflating the THETA price through misleading partnerships while quietly selling internal tokens without proper disclosure.
According to the plaintiffs’ legal representatives, the CEO carried out systematic pump-and-dump schemes, causing significant losses to both investors and company employees.
The lawsuits describe self-dealing, conflicts of interest, and fraudulent practices concealed under the guise of developing the blockchain and NFT ecosystem.
The filings also include allegations of creating fake NFT price quotes and exaggerating celebrity-related partnerships to attract speculative capital.
In Andrea Berry’s lawsuit, Theta Labs is further accused of misrepresenting its relationship with Google, portraying a standard cloud services agreement as a strategic partnership.
Several partners announced by Theta are alleged to be companies founded and fully owned by Mitch Liu, raising concerns over self-dealing and undisclosed conflicts of interest.
Two former senior executives of Theta Labs have filed whistleblower lawsuits, accusing the company and CEO Mitch Liu of long-running fraud and manipulation of the THETA token price.
On December 17, Jerry Kowal and Andrea Berry each filed separate lawsuits in Los Angeles Superior Court as whistleblowers.
The complaints allege that Mitch Liu used Theta Labs and its parent company, Silver VR Technologies, as personal trading vehicles, inflating the THETA price through misleading partnerships while quietly selling internal tokens without proper disclosure.
According to the plaintiffs’ legal representatives, the CEO carried out systematic pump-and-dump schemes, causing significant losses to both investors and company employees.
The lawsuits describe self-dealing, conflicts of interest, and fraudulent practices concealed under the guise of developing the blockchain and NFT ecosystem.
The filings also include allegations of creating fake NFT price quotes and exaggerating celebrity-related partnerships to attract speculative capital.
In Andrea Berry’s lawsuit, Theta Labs is further accused of misrepresenting its relationship with Google, portraying a standard cloud services agreement as a strategic partnership.
Several partners announced by Theta are alleged to be companies founded and fully owned by Mitch Liu, raising concerns over self-dealing and undisclosed conflicts of interest.
ရှင်းလင်းချက်- ပြင်ပအဖွဲ့အစည်း၏ ထင်မြင်ယူဆချက်များ ပါဝင်သည်။ ဘဏ္ဍာရေးဆိုင်ရာ အကြံပေးခြင်း မဟုတ်ပါ။ စပွန်ဆာပေးထားသော အကြောင်းအရာများ ပါဝင်နိုင်ပါသည်။ See T&Cs.
THETA
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