A group of investors from the Hashling NFT project has filed a lawsuit against their founder Jonathan Mills, accusing him of misappropriating millions from both the project and a related Bitcoin mining operation.
Accusations Against Jonathan Mills
In a court filing submitted on May 14 in Illinois, the plaintiffs allege that Mills deceived them regarding the transfer of assets from Hashling NFT and at least $3 million from the Bitcoin mining project to a holding company, Satoshi Labs LLC, of which he is the founder and CEO.
Case Details and Circumstances
The investors claim that they have not received any returns on their investments despite raising $1.46 million from two NFT drops. They state that Mills began ghosting them after the funding and created a flawed shareholder agreement to falsely support his claims regarding the control of the project's assets.
Participants' Opinions
According to the investors' attorney, Mills initially had ideas for the project but lacked financial resources and experience in NFTs. They assert that Mills assured them their equity shares would remain unchanged despite the company's name change. The plaintiffs are seeking legal restitution and a constructive trust over the project's assets.
This case emphasizes the need for vigilance in investing in cryptocurrency and NFT projects, as well as the importance of adhering to legal obligations.
