Founder Roger Ver Sued for $20 Million Debt

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A subsidiary of Genesis is suing Roger Ver for failing to settle on time on cryptocurrency option trades that expired on December 30, 2022.

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GGC, a subsidiary of Genesis Bermuda, alleges that veteran blockchain industry and Bitcoin Cash (BCH) proponent Roger Ver failed to repay cryptocurrency option trades on time.

GGC’s lawsuit, filed in New York State Supreme Court in Manhattan, states that the $20.86 million in debt expired in 2022. GGC seeks “monetary damages for defendant’s failure to settle cryptocurrency option transactions that expired on December 30, 2022, in an amount to be determined in court, but not less than $20.9 million,” from Roger Ver.

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Under current US law, Roger Ver must respond to the charges brought against him within the next 20 days – otherwise he will be issued a default indictment.

In 2022, Roger Ver became a defendant in a lawsuit filed by the cryptocurrency exchange CoinFLEX, which accused the investor of owing $47 million to it. Later, the exchange increased the amount of the claim to $84 million.

Source: Bits

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