Australian crypto influencer Alex Saunders has been sued by a New Zealand-based YouTube follower, Ziv Himmelfarb, for a breach of contract-related offence.
The plaintiff demanded Saunders’ repayment of 479,270 AUSD ($353,027) through a formal written order in the Victorian Supreme Court yesterday, in losses and damages for unpaid loans and failed investments.
While speaking to the Australian Financial Review today, Himmelfarb explained that he had been Saunders’ crypto commentary follower since 2017. He regarded him as the number one within the crypto space. He added that “It was a no-brainer for me to trust him.”
On February 17, it happened that Himmelfarb invested four Bitcoin (BTC) with Saunders after being offered exposure to a crypto fund by him via Facebook Messenger. At the time, four BTC were worth $198,646.
For the second time, Saunders asked Himmelfarb to invest in Stablecoins worth $50,000 into his forthcoming token project, DCB. The plaintiff accused Saunders of not possessing the license needed to offer such services.
Himmelfarb also alleged that he loaned 30ETH to Saunders in May. He said: “When he told me he had temporary liquidity issues in May, I was glad to help with a short-term loan but couldn’t get any of my money back since then. Hopefully, I can get repaid.”
Saunders’ trouble began late last month when several accusations surfaced, alleging him to have owed large sums of Bitcoin to his associates and diversion of funds invested in DCB in crypto exchanges such as FTX.