Investors who put about $1.9 million into SmartFi adequately alleged claims against its CEO for misrepresenting the cryptocurrency company’s ability to refund their money, a federal judge said in a recommendation to allow the suit to proceed.
Claims against Power Block Coin LLC, which does business as SmartFi, are paused while it’s in bankruptcy proceedings, according to Magistrate Judge Christopher B. Brown. Founder-CEO Aaron Tilton’s request for dismissal should be denied, Brown said Nov. 15 for the US District Court for the Western District of Pennsylvania.
The four individual plaintiffs say they invested in SmartFi to fund its lending business ...
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