Crypto Scam LEO Coin is Insolvent, the CEO is Stuck in Pakistan and Millions are Missing

LEO CEO Dan Andersson was arrested in Pakistan last year and ever since, he has been unable to leave the country. On the other hand, Atiff Kamran, the platform’s co-founder, has filed a complaint against the LEO, alleging unfair discrimination.

As the complaint states, Andersson was:

“issuing more LEP coins in the members back office as liability than the actual holding of LEO coins to meet the liability.”

Just recently, a court has dismissed the complaint. LEO’s life has been short-lived. The platform launched its coin in 2015 and it became tradable in 2017. Several coins had their own internal value, in which investors were encouraged in invest in through the platform’s own internal exchange.

Those who were interested in withdrawing their coins could do so. Kamran alleged that Andersson dumped pre-generated coins – more than what the platform was able to honor. Even though Karam states that he confronted Andersson in 2016 about the issue, it didn’t change anything. As Kamran stated, he acted:

“in the public interest as the respondent’s shareholders were at risk of being adversely affected by the potential accounting errors and or misappropriation of funds.”

Further, Kamran believed that

“Mr. Andersson and another were failing to comply with their statutory duty, fiduciary duties and obligations, and possibly that a criminal offence had been committed.”

LEO was also missing 300,000 GBP from August 2016 and then a few months later, it was missing 4,000,000 GBP. LEO executives started to complain and Andersson issued an email in January 2017. The email stated that the complaint against the company was being summarily dismissed. After the dismissal Andersson threatened Kamran with another lawsuit.

Interestingly enough, things proceeded in a different direction. Despite the dismissal, Kamran fought and was permitted a hearing. At the hearing Kamran presented evidence and testified. The Employment Tribunal sided with Kamran and warded him 1916 GBP and another 500 FBP for loss of stator rights.

Currently, Dan Andersson is still under arrest in Pakistan, but has managed to file suit against Kamran in Canada for financial impropriety.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide