Mark Cuban is Accused of Promoting a Ponzi Scheme Related to Voyager

Law firm Moskowitz has filed a civil lawsuit against Mark Cuban for reportedly promoting unregulated Voyager crypto products and participating in a Ponzi scheme with its CEO Stephen Ehrlich.

The plaintiff has demanded that the case be heard by a jury.

According to court documents, the crypto broker did not return 3.5 million customers about $5 billion. Cuban repeatedly misrepresented the firm, making dubious claims it trades cheaper than competitors and offers trading services without commissions.

The billionaire described the platform as “as close to risk-free as crypto can be.”

According to the lawsuit:

“Cuban and Ehrlich offered to invest in the fraudulent Voyager platform and open Voyager Earn Program accounts, which are non-registered securities. It relied on the support of the owner of the Dallas Maverick until it collapsed.”