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Russian Man Sues Baskov And Buzova For Advertising Cashbery

20:04 13/03/2019
Cashbery Investor Demands Million Rubles From Russian Celebrities

An investor, who suffered from the Russian cryptocurrency scam project Cashbery, demands more than one million rubles (over $15,000) from Russian pop stars Nikolai Baskov and Olga Buzova, TASS reports.


Resident of Russia Dmitry Ruzhnikov has already filed lawsuits against both celebrities. He accuses them of participating in ad campaigns for the Cashbery project, which was later recognized as a financial pyramid by the Central Bank of Russia and financial institutions of several other countries.


According to the victim, he invested about $14.5 thousand in Cashbery. The company positioned itself as an investment service and accepted funds in cryptocurrency. The company's website promised a profit of up to 600% per year, a lot of bonuses and an ability to trade the company’s shares.


However, in September 2018, the Central Bank of Russia found signs of a financial pyramid in the project’s activities. A month later, Cashbery was shut down, and investors' funds disappeared.


Ruzhnikov will pursue that Buzova and Baskov compensate for his lost funds, and also pay from $1500 to $3000 moral damages. The investor claims to have a serious illness, so he needs the money invested in the pyramid to go to Israel for treatment.


As the victim’s lawyer Timur Marshani notes, Russian singers associated themselves with Cashbery in promo videos and claimed to be investing their own money in the company and earning large profits. Therefore, they should be responsible for attracting people into this scheme, the lawyer explained.


At the same time, Ruzhnikov sees no point in filing a lawsuit against the company’s owner Artur Vardanyan, considering him a figurehead.


Previously, a bitcoin investor complained about the Russian bank Tinkoff.

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