Published: 05.04.2022
Article reading time:
2 minutes.
The London Arbitration Court found unfounded the claims of the founder of Zotobi Management Igor Chuprin to Pavel Durov’s company.
Forbes reports that the Russian entrepreneur, in his statement, demanded that Telegram compensate for the losses he suffered by investing $1 million in the TON project. According to the decision of the court, which supported the Telegram company, the claim was rejected and now Chuprin must reimburse legal costs in the amount of $700,000.
In 2018, the CEO of Dubai-based Zotobi Management invested $1 million in TON. After the TON project was closed by the US Securities and Exchange Commission (SEC), Pavel Durov offered investors who invested in the project compensation in the amount of 72% of the investment. Chuprin refused compensation and filed a lawsuit a couple of weeks after the project closed, demanding a 100% refund. Durov, Chuprin and Vice President of Telegram Ilya Perekopsky were invited to the online hearing.
Chuprin stated in court that he invested in TON recklessly, without reading the documentation, which indicated the risks. In the lawsuit, the founder of Zotobi Management claimed that Telegram did not provide documents that listed the risks of investing in the project. Perekopsky admitted that they did not track the sending of documents to the investor, and perhaps he did not receive them.
Despite this, the London court decided that Chuprin was sufficiently familiar with the project, since all information about the risks of TON was presented on thematic forums, on social networks and on the official website of the project. In addition, the investor signed the contract for the acquisition of Gram that he had read the project documentation.
Recall that last year the lawyers of the Da Vinci Capital fund, on behalf of their investors, sent pre-trial letters to the management of TON Inc and Telegram Inc, including Pavel Durov, demanding compensation of $100 million for the failed project.
Source: Bits
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