Crypto gambling firm Stake.com is facing a $400 million (£346m) lawsuit filed by a former business partner of the company’s co-founders.
Florida resident Christopher Freeman stated in the lawsuit that he along with Ed Craven and Bijan Tehrani, founded the Bitcoin gaming company Primedice which he claims had provided the blueprint for Stake.com, which is currently being run by Craven and Tehrani.
Stake.com Co-Founders Accused of Bullying and Unlawful Tactics
Stake.com, which is now worth more than $1 billion, has grown to become one of the world’s leading crypto gambling platforms, securing major partnerships and sponsorship deals, the most notable of which is its link-up with the Ultimate Fighting Championship (UFC) and Canadian rapper Drake, who is among the world’s best-selling music artists. Apart from that, Stake also has ongoing sponsorship agreements with Everton FC and F1 driver Pietro Fittipaldi.
Freeman has alleged that Craven and Tehrani used bullying and unlawful tactics to edge him out of the business. He said the concept of building a crypto casino website based on Primedice came from him. Freeman has accused his former business partners of stealing his idea and now demands they pay him his fair share, which, according to the suit, could amount to over $400 million.
Stake.com Denies the Allegations
In response to the lawsuit, Craven and Tehrani have denied Freeman’s allegations, saying they were provably false, internally consistent, and intentionally misleading. Stake.com rejected the claims as merely a desperate attempt to spread lies and extort money from the company.