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Alex Saunders sued for $350K by Nuggets News follower

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Australian crypto influencer Alex Saunders is being sued by a disgruntled follower of his YouTube channel and recommendation service Nuggets News.

The plaintiff, New Zealand-based Ziv Himmelfarb, filed a proper written order on Aug. 11 within the Victorian Supreme Court demanding that Saunders repay 479,270 Australian {dollars} ($353,027) in losses and damages for unpaid loans and investments which are but to materialize.

Speaking to the Australian Financial Review on Aug. 12, Himmelfarb said that he had adopted Saunders’ crypto commentary since 2017, stating, “He made some great calls and to me he was the No. 1 person to follow in the crypto space.”

“It was a no-brainer for me to trust him.”

Himmelfarb claimed to have first invested 4 Bitcoin (BTC) on Feb.17 with Saunders after the influencer provided him publicity to a crypto fund through Facebook Messenger. The BTC invested was value $198,646 on the time.

Himmelfarb mentioned Saunders then requested him to speculate $50,0000 value of stablecoins into his forthcoming secure token undertaking, DCB. The plaintiff accused Saunders of failing to own the licensing wanted to supply investment products to the general public.

In May, Himmelfarb alleged that he additionally loaned 30 Ether (ETH) to Saunders after the YouTuber reached out to him for assist with “liquidity issues.”

“When he told me he had temporary liquidity issues in May, I was glad to help with a short-term loan, but couldn’t get any of my money back since then. Hopefully I can get repaid,” Himmelfarb mentioned.

Related: Nuggets News CEO under fire over alleged unpaid loans and investment funds

As reported by Cointelegraph on July 28, Saunders discovered himself in sizzling water final month after quite a few accusations surfaced that he owed giant sums of Bitcoin to his associates, together with allegations that funds invested in DCB had been diverted to crypto exchanges resembling FTX.

Saunders didn’t instantly reply to Cointelegraph’s request for remark.