Curve Finance CEO Accused Of Fraud By 3 Venture Capital Firms
A high-stakes legal battle between three leading crypto venture capital companies and the creator of the popular decentralized exchange Curve Finance is begun in a San Francisco court. According to a case filed in the Superior Court of California, San Francisco, Curve Finance founder Michael Egorov stole the three VC companies’ trade secrets and cheated them out of over $1 million in money while dangling the false promise of prospective ownership in Curve to acquire the investors’ confidence and support.
Egorov allegedly deceived them in several ways over a six-month period, according to ParaFi Digital Opportunities, Framework Ventures, and 1kx. The case, filed in April, also claims that Egorov relocated to Switzerland to avoid the impending legal consequences. Since 2020, the three companies have been pursuing breach-of-contract litigation against him and his business Swiss Stake in Switzerland. Beginning in 2020, Egorov allegedly deceived three venture investors by falsely promising them a share in Curve Finance. According to their most recent lawsuit filed in San Francisco in April, he is believed to have leveraged their network and reputation to win the trust and legitimize Curve Finance.
Source
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