Two cryptocurrency entrepreneurs behind tokens promoted by First Lady Melania Trump have been accused of orchestrating a wide-ranging fraud scheme using “celebrity association and borrowed fame” to lure investors, according to an amended federal lawsuit.

Racketeering allegations

The class-action suit targets Benjamin Chow, co-founder of crypto exchange Meteora, and Hayden Davis of venture firm Kelsier Labs. It was first filed in April alleging a multimillion-dollar scam tied to a single memecoin , $M3M3, Wired reported. The complaint has since expanded to include claims of racketeering and market manipulation involving multiple tokens.

Celebrity-driven “playbook”

The newly proposed version of the complaint submitted Tuesday alleges the duo pumped and dumped at least 15 cryptocurrenci

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