According to FinanceFeeds, Lime co-founder Brad Bao has been named as a defendant in a $100 million federal RICO lawsuit filed in the U.S. District Court for the Northern District of California. The lawsuit accuses Cere Network CEO Fred Jin and others of engaging in crypto fraud through token pump-and-dump schemes. The filing alleges that prior to the project's 2021 ICO, promises were made regarding token lock-up arrangements, but on the day of launch, a large number of tokens were transferred to exchanges like HTX and KuCoin and sold off, involving approximately $41.78 million. Cere tokens peaked at $0.47 on the launch day, then dropped to $0.06, and currently sit at around $0.0012, down over 99% from their peak. The plaintiffs also accuse the parties involved of transferring funds through shell companies and multi-layered wallets, as well as engaging in fake trading volume practices. The plaintiffs are seeking $100 million in damages. https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=57082