HOUSTON — A Texas man claims he was frauduently sold cryptocurrency that now has no monetary value.
Richard Anders filed a complaint Feb. 22 in Harris County District Court against Timi Group Inc., Ramiro Pequeno and William Lowe alleging breach of contract, fraud and unjust enrichment.
Anders alleges in his complaint that he purchased $190,000 worth of Timicoins cryptocurrency from the defendants for ten cents a coin. He claims the defendants "guaranteed and warranted" that the Timicoins cryptocurrency he purchased would resell for at least 50 cents per coin but was never able to sell the Timicoins for any amount.
Anders further claims the defendants representations about the Timicoins constitute fraud and that they knew the representations were false or were made "recklessly" in order to induce him to purchase the Timicoins.