The class-action lawsuit alleges that the famous NFT backers committed fraud “by convincing potential retail investors that the price of these digital assets would rise.” Now, some of these investments are worth about 10% of their original value. Other big names that appear in the case include: Justin Bieber, Kevin Hart, Steph Carey, Serena Williams and her Reddit CEO husband Alexis Ohanian, Snoop Dogg, The Weeknd and DJ Khaled. Also the production company of Adidas and G Yemi Fallon – Election Hot Dog is among the defendants.
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The lawsuit claims that the talent manager, Guy Osiri, was behind most of the promotions and recruited famous people in exchange for payment through a crypto company, Moonpay, in which he also invested. It also helped Moonpay rake in cash, according to the suit. Fallon did a skit about the NFT on NBC’s “The Tonight Show” in November 2021 and told viewers he got his first Bored Ape Yacht Club NFT through Moonpay — without saying he had shares in Moonpay, the lawsuit alleges. The talk show host and NBC did not tell the audience that “this apparently organic segment on the Tonight Show was actually a paid advertisement for the NFT Collection and MoonPay,” the lawsuit further states.