Class action lawsuit accuses Ben Chow of orchestrating Melania and LIBRA memecoin fraud

A class action lawsuit has been filed over the Ben Chow memecoin fraud. He is accused of using Meteora to orchestrate scams with the LIBRA and MELANIA 'memes'.
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Ben Chow, co-founder of the Meteora platform, is being sued for alleged fraud involving the LIBRA and MELANIA memecoins. The complaint alleges that the defendants “borrowed credibility” from public figures, such as U.S. First Lady Melania Trump and Argentine President Javier Milei, to legitimize what the plaintiffs describe as a “coordinated liquidity trap.”

The impact of this alleged memecoin fraud by Ben Chow was a rapid rise and fall of the tokens, generating accusations of a rug pull. Although President Milei promoted LIBRA (facing fraud charges for it in Argentina), the lawsuit clarifies that the public figures were just “window dressing” for the scheme, which also involved Kelsier Ventures in marketing. Both coins collapsed shortly after their launch, affecting investors.

The lawsuit positions Chow “at the center of the enterprise,” accusing him of a similar pattern in at least 15 tokens (focusing on five, including ENRON and TRUST). Although Ben Chow denied having inside information about the LIBRA project in February, the controversy led him to resign from Meteora that same month. The litigation now continues against Chow and the other defendants to determine their responsibility in the alleged scheme.


Source: https://www.courtlistener.com/docket/70237496/205/1/hurlock-v-kelsier-ventures/


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