Former Olympic speed skater Apollo Ono sued for ICO fraud

The Gold Treasurer reported that former Olympian Apollo Ohno has been indicted by a California court with fraud of $ 50 million. Lawyers representing minority investors in HYB (the native token of HybridBlock) in a lawsuit filed on August 13 alleging that their clients had been victims of fraud. According to the lawsuit, Los Angeles businessman Brian Kang invested $ 1.5 million in ETH in HYB. The other selected defendants, including Prasad Hurra, David Kim, David Kwon and Young Jae Kwon, all invested between 70,000 and 250,000 US dollars in the plan. HybridBlock is said to be a now inactive cryptocurrency exchange discovered in 2017 by Ohno and his business partner Rod Jao. From January to June 2018, Ohno and Jao raised around $ 50 million through sponsorship of HybridBlock and their media, conference, and conference ICOs. However, as investors believe, that money was not used to build the exchange and the HybridBlock ecosystem, and complaints claim that the ICO was "just a victim box."