Stake.com crypto billionaires Ed Craven and Bijan Tehrani claim ex-business associate Chris Freeman embezzled millions

Mr. Freeman’s lawsuits alleging bullying, secret fraud and deception regarding the nature of the Stake.com venture, Craven and Mr. Tehrani say, are “pure fantasy,” motivated by “regrets that he gave up the opportunity to join a successful company” further. , according to court documents obtained by Australian Financial Review.

The former friend of the Stake founders said he was misled into not participating in Stake, that the billionaire co-founders are actively encouraging the use of technology to circumvent crypto-gambling bans for US citizens, and that he was concerned about the “loose” approach of the couple to compliance problems.

Freeman said he was entitled to 20 percent of Stake.com, and said he raised the idea of ​​a crypto casino with the co-founders in 2016.

“Rather than making peace with the decision to opt out of the new business opportunity, Freeman was apparently consumed by bitterness, which led him to steal tens of millions of dollars of assets from Primedice and then create a story about how he made these poor decisions only because his best friend ‘lied … about Stake.com’s true nature’, ‘acted to freeze him out’ and ‘hide[ed] his rights to the new business,” the motion to dismiss states.

“All Freeman can claim to support these sensational claims is that Tehrani and Craven initially envisioned building a ‘fiat money casino’ not a cryptocurrency.

“Of course, Freeman alleges no facts showing that (i) Tehrani and Craven were not actually considering a fiat casino at the time; (ii) Stake.com does not actually accept fiat currency (which it does); or (iii) that he was denied the opportunity to invest in the business that operates Stake.com after it launched and began accepting cryptocurrency (he declined that opportunity as well).”

Freeman was contacted for comment through his lawyers, but did not respond before publication.

Stake.com itself is not a legal entity. It has been registered on the Dutch Caribbean island of Curacao, according to a survey conducted by The age and Sydney Morning Heraldbut has strong ties to another of Mr Craven’s businesses, Melbourne-based Easygo Solutions.

Mr Craven was one of 26 debutants on last year’s Young Rich List, debuting at the age of 27 with an estimated net worth of $1.1 billion.

In calendar 2021, Stake generated $1.8 billion in revenue and pretax operating profit of $550 million.

While it is not illegal for the company to be kicked out of Australia due to a legal loophole, Australians cannot play any of Stake.com’s games.

The company is a major sponsor of the English Premier League club Everton.

The crypto entrepreneur bought two mansions in Melbourne’s Toorak last year, including a record-breaking “ghost” mansion on St Georges Road for $88 million and a lavish 2,000 square meter four-bedroom home in Toorak last year for $38.5 million.