Fraud Lawsuit Against Michael Egorov Quashed in California
A lawsuit by ParaFi Capital, Framework Ventures, and 1kx against CEO Michael Egorov of decentralized finance giant Curve Finance was rejected by a California judge, partly because the defendant didn’t live in the state at the time of the alleged misdeeds. The complaint alleged that Egorov misappropriated trade secrets and defrauded the firms out of nearly $1 million in funds, while falsely promising a possible stake in Curve to gain investor trust.
Judge Richard B. Ulmer Jr. ruled that California courtrooms are not appropriate for a breach-of-contract case against Egorov and Swiss Stake, which has been pursuing since 2020. The plaintiffs cited 2020 behavior, and Egorov moved to Switzerland to protect himself from legal consequences.
(With inputs from Shikha Singh)
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