Australia: Stake.com founders are being sued

Stake.com founders are accused of allowing illegal crypto gambling on their casino platform.
Stake.com founders are accused of allowing illegal crypto gambling on their casino platform.

Ed Craven and Bijan Tehrani allegedly cut out Christopher Freeman from the online casino enterprise.

Australia.- Australia’s youngest billionaire, Ed Craven (27), and Bijan Tehrani (28) his business partner in Stake.com, an online casino enterprise, are being sued for more than US$500m by Christopher Freeman, a childhood friend and ex-colleague.

According to court documents, Stake.com founders are accused of cutting Freeman out of their business and also are accused of allowing illegal crypto gambling on their casino platform.

Freeman and Tehrani grew up together in Connecticut, US, and developed the business Primedice, a cryptocurrency dice gambling website along with Ed Craven.

But when the pair wanted to develop another business called Stake.com in Australia and wanted Freeman to relocate he refused and Tehrani and Craven moved and founded the online casino.

According to Tehrani and Craven, Freeman did not want to be involved as he believed there was too much competition in that arena already. 

However, Freeman claims he was unfairly cut out of the business and is suing the pair for US$588m in damages in New York’s Southern District Court. Also, he is claiming a 20 per cent share of the business. 

It is claimed that Stake.com generates some US$400m in bets every day and the company flouted laws in the US to offer bets there using cryptocurrency.

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