CoinVoice has recently learned that, according to BusinessWire, a group of investors has filed a class-action lawsuit against Rhodium Enterprises, a Bitcoin mining company in Texas, accusing its founder of fraudulent activities.
The lawsuit was filed by the lawyers of Iacuone McAllister Potter, claiming that the defendants (including Rhodium executives and Imperium Investments Holdings, LLC based in Fort Worth) deliberately misled the plaintiff into investing a total of $33 million by concealing key information and engaging in self-dealing. The case has been filed in the Tarrant County District Court. The lawsuit states, 'The defendants intentionally misled and deceived the plaintiffs to secure their millions of dollars in investments so that the defendants could enrich themselves and make Imperium wealthy.'
The plaintiffs include dozens of investors in Rhodium who claim that important facts regarding their investments and Rhodium's business operations were deliberately concealed. Most notably, the lawsuit alleges that the defendants failed to disclose a transaction to sell Rhodium's operating facilities to direct competitor Riot Blockchain, which directly triggered conflicts with key power contracts. [Original link]