Cheung claims that he was unable to obtain his almost one million dollars back from a person to whom he had provided the money because the person had promised to invest it in crypto.
The co-founder of Syncracy Capital asserts that his losses would “likely” amount to more than $2.7 million.
Daniel Cheung, the co-founder of Syncracy Capital, has said in a complaint that he was scammed out of about one million dollars and has filed the action.
Cheung alleges that Sean Full, a resident of Los Angeles, stole funds from him to invest in cryptocurrencies and decentralized finance projects, but Full never returned the money. This allegation is made in a lawsuit that Cheung filed in the Western Division of the United States District Court for the Central District of California. According to Cheung, he made many attempts to get his money back but was unsuccessful each time.
Cheung says that Full was supposed to construct an investment plan that would give him control over the money and that this was not the case. And Cheung claims that Full placed his money in an “unspecified, and likely unregistered, ‘delta neutral producing farming’ fund’ without getting his approval.
In addition to this, the complaint claims that Cheung sent approximately one million dollars to Full, although the “probable” sum of his losses is more than $2.7 million.
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