Soccer Exchange Denies Fraud In $2.2M Crypto Token Fight

Law360, London (May 7, 2020, 6:11 PM BST) -- The leaders of a marketplace for buying shares in soccer clubs have accused an oil trader of falsely alleging their project was "a sham" designed to defraud unwitting investors through the sale of cryptocurrency.

Swiss businessman Murat Seitnepesov "had no justification" in obtaining a worldwide freezing injunction from London's High Court, lawyers for London Football Exchange Market Ltd. and its management argued in defense documents filed Monday.

Seitnepesov is suing LFE and associated entities on behalf of his companies Blockchain Optimization SA and Petrochemical Logistics Ltd. over the alleged provision and nonrepayment of loans for their cryptocurrency project. He claims that...

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