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NFT Legal letter threatens legal action against PSYOP
A partner in the Loevy and Loevy firm threatens to sue the founder of PSYOP with a legal letter from the NFT. The founder of the PSYOP project goes by the name Ben.eth on Twitter and is a notable influencer. Here is everything you need to know.
Ben.eth served settlement claims via NFT Legal Letter
On May 20, an NFT influencer received one claim for settlement in the form of an NFT legal letter. The claim accused the influencer, known as Ben. eth, for potentially engaging in wire fraud during a token presale that raised $7 million. This is in addition to Ben.eth’s involvement in another controversy.
Mike Kanovitz, a partner at the Loevy & Loevy law firm, revealed on Twitter that the settlement demand had been served to Ben.eth’s wallet address. NFT’s legal letter alleged that Ben.eth used a manipulative strategy for the PSYOP token presale. In addition, it accused him of focusing on the structure of the liquidity pools and the distribution of tokens after the pre-sale.
Ben.eth of course replied via Twitter. His response claimed that 50% of the tokens had already been sent out and the rest would follow soon.
The saga continues
The NFT court letter claimed that Ben.eth could be guilty of wire fraud. In addition, it claimed that wire fraud could result in a triple damages award of $21 million. Therefore, Kanovitz suggested a refund as the appropriate solution and warned of potential legal action if refunds were not provided. He made it clear that his company would step in to rectify the situation if Ben.eth continued to harm people.
Furthermore, Kanovitz emphasized the potential consequences for Ben.eth if he did not follow NFT’s legal letter. The consequences included personal legal action and the disclosure of the identities of their co-conspirators. He also threatened to subpoena the influencer’s communications, claiming the evidence would strengthen the case against them.
The letter concluded by claiming that Ben.eth’s actions constituted real fraud, causing harm to real people, and that there would be consequences if they “don’t do it right.”
In response, Ben.eth retweeted the letter several hours later, criticizing its unprofessionalism and suggests that it could lead to trouble with the bar association.
