Crypto Company Theta Labs Sued by Former Employees Over Fraud and Market Manipulation
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Former Theta Labs executives filed fraud lawsuits alleging market manipulation by CEO Mitch Liu. Claims include orchestrated pump-and-dump schemes for THETA tokens and false celebrity partnerships to inflate prices. Retaliation against whistleblowers is also reported.
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- Former Theta Labs executives Jerry Kowal and Andrea Berry filed fraud lawsuits.
- Complaints allege the CEO orchestrated pump-and-dump schemes for THETA tokens.
- Lawsuits claim false celebrity partnerships used to inflate THETA token prices.
Two former senior executives at Theta Labs filed whistleblower lawsuits in California alleging the blockchain company and CEO Mitch Liu engaged in market manipulation and fraud. The complaints were filed separately in Los Angeles Superior Court by former executives Jerry Kowal and Andrea Berry.
The lawsuits allege that Liu used Theta Labs and its parent company, Sliver VR Technologies, to inflate token prices through misleading partnerships and undisclosed insider token sales. The complaints also claim the company retaliated against employees who raised concerns about these practices.
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