ConsenSys Chief Joe Lubin to Be Taken to Court by Ex-Staffer for $13 Mln

Head of Token platform is about to sue one of Ethereum founders and the CEO of ConsenSys Joe Lubin for ‘fraud and unjust enrichment’

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The founder of a ConsenSys Token division, Harrison Hines, who worked with Joe Lubin’s ConsenSys, has started pressing charges against his ex-employer. The process was commenced in June, says the court documentation.

Hines seeks to receive $13 mln from Lubin

As per the summons of the plaintiff’s lawyer, Hine demands a compensation in the amount of $13 mln for fraud, violating contractual obligations, unfair enrichment and earned profits that were not paid out.

The details have not been revealed by either side yet but the process of starting the lawsuit has not been completed yet. Hines has missed the deadline for submitting the paperwork, though.

Perhaps, both sides of the case are trying to solve the issue without taking it to court.

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About Token Foundry

The company was set up in spring last year, and was a branch of ConsenSys in the sphere of token sales arrangement and promotion. It was often paid with a certain amount of newly released coins apart from a percentage from sales that Token Foundry organized, writes CoinDesk, citing an anonymous source.

Among the company’s customers were Dether (with a $13.4 mln token sale), Virtue Poker (a $18.5 mln token sale), FOAM (a $16.5 mln coin sale).

After the last of the aforementioned token sales Hines left the employment of ConsenSys. CoinDesk speaks of him as of a man who used to be inside Joe Lubin’s ‘inner circle’.

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Yuri Molchan

Yuri entered the crypto sphere at the BTC price peak in 2017, quickly turning into a crypto enthusiast. He has written for several media, covering everything from TA to ICOs and crypto regulations. Presently is a news writer, working with crypto and blockchain-related topics.