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TNW uses cookies to personalize content and ads to make our site easier for you to use. Lucas made numerous false statements to entice investors to participate in the sale of unregistered digital securities of Fantasy Market FMT. Additionally, the white paper also touted that the value of FMT would increase as demand for the Fantasy Market platform rose, thus allowing investors to trade or to sell their tokens for a profit. He also presented a made up management team and misrepresented his own experience.
Lucas also admitted that the platform had not yet been built, and that he had decided to return funds to investors. Two months later, in January this year, the publication ran a follow up article highlighting that some investors had complained about the delay in receiving their promised funds. Later that month, Lucas completed refunding investors in their original cryptocurrency investment amounts.
The proposed settlement is still subject to court approval, though. Join Hard Fork Summit on October to find out. Published September 24, β UTC. September 24, β UTC. Powered by. Blockchain, cryptocurrencies, and insider stories by TNW.