Australian crypto influencer Alex Saunders is being sued by a disgruntled follower of his YouTube channel and advice service Nuggets News.<\/p>\n
The plaintiff, New Zealand-based Ziv Himmelfarb, filed a formal written order on Aug. 11 in the Victorian Supreme Court demanding that Saunders repay 479,270 Australian dollars ($353,027) in losses and damages for unpaid loans and investments that are yet to materialize. <\/p>\n
Speaking to the Australian Financial Review on Aug. 12, Himmelfarb said that he had followed Saunders\u2019 crypto commentary since 2017, stating, \u201cHe made some great calls and to me he was the No. 1 person to follow in the crypto space.\u201d<\/p>\n
\u201cIt was a no-brainer for me to trust him.\u201d<\/p><\/blockquote>\n
Himmelfarb claimed to have first invested four Bitcoin (BTC) on Feb.17 with Saunders after the influencer offered him exposure to a crypto fund via Facebook Messenger. The BTC invested was worth $198,646 at the time.<\/p>\n
Himmelfarb said Saunders then asked him to invest $50,0000 worth of stablecoins into his forthcoming stable token project, DCB. The plaintiff accused Saunders of failing to possess the licensing needed to offer investment products to the public. <\/p>\n
In May, Himmelfarb alleged that he also loaned 30 Ether (ETH) to Saunders after the YouTuber reached out to him for help with \u201cliquidity issues.\u201d<\/p>\n
\u201cWhen he told me he had temporary liquidity issues in May, I was glad to help with a short-term loan, but couldn\u2019t get any of my money back since then. Hopefully I can get repaid,\u201d Himmelfarb said.<\/p>\n