• Latest
  • Trending
  • All
  • News
  • Business
  • Lifestyle
Elon Musk Publicly Hangs Jimmy Fallon Out to Dry After Viral Hashtag Sends the Internet Ablaze

Madonna, Jimmy Fallon and Other Celebrities Named in Massive Lawsuit Over ‘Insidious’ Campaign

December 12, 2022
Joe Biden Diagnosed With ‘Aggressive’ Prostate Cancer

Joe Biden Diagnosed With ‘Aggressive’ Prostate Cancer

May 18, 2025
Tariffs Will Likely Lead To Price Increases, Bessent Says

Tariffs Will Likely Lead To Price Increases, Bessent Says

May 18, 2025
Pope Leo XIV Condemns ‘Religious Propaganda’ in First Mass

Pope Leo XIV Condemns ‘Religious Propaganda’ in First Mass

May 18, 2025
There’s A New Law Firm In Washington. It Wants To Take All The Cases Liberals Hate

There’s A New Law Firm In Washington. It Wants To Take All The Cases Liberals Hate

May 18, 2025
‘Crime Against This Republic’: CNN’s Van Jones Says Dems Will ‘Pay For A Long Time’ For Biden Cover-Up

‘Crime Against This Republic’: CNN’s Van Jones Says Dems Will ‘Pay For A Long Time’ For Biden Cover-Up

May 18, 2025
Hillary Clinton Appears To Have Learned Nothing From 2016 ‘Basket Of Deplorables’ Remark

Hillary Clinton Appears To Have Learned Nothing From 2016 ‘Basket Of Deplorables’ Remark

May 18, 2025
2 Confirmed Dead As Mexican Ship Hits Brooklyn Bridge 

2 Confirmed Dead As Mexican Ship Hits Brooklyn Bridge 

May 18, 2025
‘Loyal’ Ex-Biden Aide Says Jill Biden’s Strategy Is Making Things Worse

‘Loyal’ Ex-Biden Aide Says Jill Biden’s Strategy Is Making Things Worse

May 18, 2025
Fox News Guest Says AOC Walked Out On Her Question During Bronx Town Hall

Fox News Guest Says AOC Walked Out On Her Question During Bronx Town Hall

May 18, 2025
1 Dead in Fertility Clinic Explosion

1 Dead in Fertility Clinic Explosion

May 17, 2025
LARRY PROVOST: Reopening Alcatraz Is A Brilliant Idea

LARRY PROVOST: Reopening Alcatraz Is A Brilliant Idea

May 17, 2025
Newsom Looks To Extend Carbon Cap Policy, Fund Rail Boondoggle As Possible Gas Crisis Looms

Newsom Looks To Extend Carbon Cap Policy, Fund Rail Boondoggle As Possible Gas Crisis Looms

May 17, 2025
  • Donald Trump
  • State of the Union
  • Elon Musk
  • Tariffs
  • Congress
  • Faith
  • Immigration
Sunday, May 18, 2025
  • Login
IJR
  • Politics
  • US News
  • Commentary
  • World News
  • Faith
  • Latest Polls
No Result
View All Result
IJR
No Result
View All Result
Home Commentary

Madonna, Jimmy Fallon and Other Celebrities Named in Massive Lawsuit Over ‘Insidious’ Campaign

by Western Journal
December 12, 2022 at 6:56 am
in Commentary
240 12
0
Elon Musk Publicly Hangs Jimmy Fallon Out to Dry After Viral Hashtag Sends the Internet Ablaze

NEW YORK, NY - MARCH 01: Jimmy Fallon hosts "Late Night with Jimmy Fallon" at Rockefeller Center on March 1, 2011 in New York City. (Photo by Theo Wargo/Getty Images)

491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Whether you think cryptocurrency and non-fungible tokens (NFTs) are the future of digital banking or a Ponzi scheme for the 21st century, you cannot deny that, at the very least, the two are both wildly volatile.

Which has always made it so surprising that celebrities from all avenues of entertainment so willingly threw their unvarnished support behind all sorts of crypto-related ventures.

Oh, wait. It’s not surprising at all since those same crypto companies likely paid them oodles of cash to hock their non-fungible goods, the actual quality of those goods be damned.

And that notion is at the crux of an all-encompassing lawsuit aimed at some A-list heavy hitters — the likes of Madonna, Jimmy Fallon, Serena Williams, Steph Curry, Tom Brady, and more.

According to Deadline, a new class action lawsuit filed in federal court is targeting those famous faces over pushing Bored Ape Yacht Club NFTs for “hidden payoffs.”

Even if you’re not familiar with its name, surely you’ve seen these kinds of NFTs (read: images) bandied about:

Ape #441 was purchased for 540.0 ETH
https://t.co/9FaKoPL0qg pic.twitter.com/f382R3nvyk

— boredapebot (@boredapebot) December 9, 2022


The lawsuit, which was filed in US District Court in California on Thursday by Adonis Real and Adam Titcher, states that the “defendants’ promotional campaign was wildly successful, generating billions of dollars in sales and re-sales.”

The idea of people spending “billions of dollars” on overhyped JPEG files is… depressing, to say the least.

“The manufactured celebrity endorsements and misleading promotions regarding the launch of an entire [Bored Ape Yacht Club or BAYC] ecosystem (the so-called Otherside metaverse) were able to artificially increase the interest in and price of the BAYC NFTs during the Relevant Period, causing investors to purchase these losing investments at drastically inflated prices.”

The lawsuit accuses the various defendants of using their respective platforms to publicly praise the BAYC NFTs and claiming to be customers themselves.

“The truth is that the Company’s entire business model relies on using insidious marketing and promotional activities from A-list celebrities that are highly compensated (without disclosing such), to increase demand of the Yuga securities by convincing potential retail investors that the price of these digital assets would appreciate,” the lawsuit claims.

Additionally, the lawsuit claims that the celebrities “engaged in a plan, scheme, conspiracy, and course of conduct pursuant to which they knowingly or recklessly engaged in acts, transactions, practices, and courses of business that operated as a fraud and deceit upon Plaintiffs and the other members of the Class.”

Put simply, the lawsuit is making the legal point that celebrities were promoting these NFTs without also disclosing how much they were being paid to do so.

“In truth, the Executive Defendants and Oseary used their connections to MoonPay and its service as a covert way to compensate the Promoter Defendants for their promotions of the BAYC NFTs without disclosing it to unsuspecting investors,” the lawsuit adds.

Celebrity music manager Guy Oseary, mentioned above, is tabbed as the mastermind of this entire scheme.

This lawsuit is the latest woe to befall the crypto economy.

In late November, the Department of Justice charged 21 people for using cryptocurrency to money launder. Given the unregulated nature of cryptocurrency, money laundering is a constant concern with it.

Much more significantly, cryptocurrency exchange company FTX has made all sorts of negative headlines recently — from going bankrupt to having former CEO Sam Bankman-Fried exposed as a huckster who stole from the poor and gave to the mega-rich Democrats.

A brief stab at advertising may prove to be quite costly for all of these celebrities involved.

And while they surely have enough money to withstand such a lawsuit (if they are even found guilty), it’s still a bad look.

Hopefully, those celebrities are aware that monkey JPEG files won’t be accepted should be found guilty. It’s going to cost them real money.

This article appeared originally on The Western Journal.

Tags: business and moneycelebrityfraudlawsuitmoneyU.S. News
Does this lawsuit make a good case against the celebrities?

Completing this poll entitles you to our news updates free of charge. You may opt out at anytime. You also agree to our Privacy Policy and Terms of Use.
Yes: 92% (35 Votes)
No: 8% (3 Votes)
Share196Tweet123
Western Journal

Western Journal

Advertisements

Top Stories June 10th
Top Stories June 7th
Top Stories June 6th
Top Stories June 3rd
Top Stories May 30th
Top Stories May 29th
Top Stories May 24th
Top Stories May 23rd
Top Stories May 21st
Top Stories May 17th

Join Over 6M Subscribers

We’re organizing an online community to elevate trusted voices on all sides so that you can be fully informed.





IJR

    Copyright © 2024 IJR

Trusted Voices On All Sides

  • About Us
  • GDPR Privacy Policy
  • Terms of Service
  • Editorial Standards & Corrections Policy
  • Subscribe to IJR

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Politics
  • US News
  • Commentary
  • World News
  • Faith
  • Latest Polls

    Copyright © 2024 IJR

Top Stories June 10th Top Stories June 7th Top Stories June 6th Top Stories June 3rd Top Stories May 30th Top Stories May 29th Top Stories May 24th Top Stories May 23rd Top Stories May 21st Top Stories May 17th