Aussie crypto billionaire alleges ex associate embezzled millions

Mr Freeman’s litigation alleging bullying, secret betrayals and deceit as to the character of the Stake.com enterprise, Mr Craven and Mr Tehrani say, is “pure fantasy”, motivated by “remorse that he handed on the chance to hitch a profitable enterprise”, in line with the courtroom paperwork obtained by The Australian Monetary Assessment.

The previous good friend of the Stake founders mentioned he was misled into not participating in Stake, that the billionaire co-founders actively encourage the usage of know-how to bypass crypto playing bans for US residents, and that he held issues for the “free” method of the pair to compliance points.

Mr Freeman mentioned he was entitled to twenty per cent of Stake.com, and mentioned he raised the concept of a crypto on line casino with the co-founders in 2016.

“As an alternative of constructing peace together with his determination to decide out of the brand new enterprise alternative, Freeman apparently turned consumed with bitterness, main him to steal tens of hundreds of thousands of {dollars} of belongings from Primedice after which manufacture a story about how he made these dangerous selections solely as a result of his greatest good friend ‘lied … concerning the true nature of Stake.com’, ‘acted to freeze him out’, and ‘conceal[ed] his rights’ to the brand new enterprise,” the movement to dismiss says.

“All Freeman can allege to again up these sensational claims is that, at first, Tehrani and Craven envisioned constructing a ‘fiat cash on line casino’ not a cryptocurrency one.

“In fact, Freeman alleges no info to point out that (i) Tehrani and Craven weren’t, the truth is, contemplating a fiat on line casino at the moment; (ii) Stake.com doesn’t, the truth is, settle for fiat forex (which it does); or (iii) that he was denied the chance to spend money on the enterprise working Stake.com after it launched and commenced accepting cryptocurrency (he turned that chance down as effectively).”

Mr Freeman was contacted for remark through his legal professionals, however didn’t reply previous to publication.

Stake.com itself will not be a authorized entity. It’s registered within the Dutch Caribbean island of Curacao, in line with an investigation by The Age and The Sydney Morning Herald, however has sturdy ties to a different of Mr Craven’s companies, Melbourne-based Easygo Options.

Mr Craven was one in every of 26 debutants on final yr’s Younger Wealthy Checklist, debuting at age 27 with an estimated web value of $1.1 billion.

In calendar 2021, Stake generated $1.8 billion in income and a pre-tax working revenue of $550 million.

Whereas it’s not unlawful for the corporate to be run out of Australia due to a authorized loophole, Australians can’t legally play any of Stake.com’s video games.

The corporate is a serious sponsor of English Premier League Membership Everton.

The crypto entrepreneur bought two mansions in Melbourne’s Toorak final yr, together with a record-breaking “ghost” mansion on St Georges Highway for $88 million and a lavish 2000 sq. metre four-bedroom dwelling in Toorak final yr for $38.5 million.