'An elaborate alleged conspiracy, engineered by Hollywood’s elite.'
Phwoar! How's that for a headline?
It's all a bit tin-foil-hat-ish (at least, the quoted language is), but it's some of the biggest news to break over the weekend.
Basically, that headline is what the law firm Scott + Scott are accusing MoonPay investor/talent manager Guy Oseary and Yuga Labs (creators of Bored Ape Yacht Club) of doing.
Their claim is this:
Yuga Labs & Oseary, who represents Yuga + a bunch of celebrities, used MoonPay to secretly pay an extensive network of talent (including Madonna, Justin Bieber & Steph Curry) to publicly endorse BAYC & enrich themselves.
MoonPay was known to facilitate NFT purchases for celebrities - which is all above board...
But if Scott + Scott can prove that these celebrities were paid to promote Yuga's projects, their lack of disclosure becomes a problem.
Not disclosing you've been paid to promote an investment vehicle is exactly what Kim K got stung for a few months back.
Having watched a few episodes of 'Ally McBeal,' back in the late 90's, our tv-educated guess at what's at play here, is one of two things:
Scott + Scott have found proof of these alleged payments, and are capitalizing on it.
Scott (x2) don't have much proof, but are hoping Oseary & Yuga will opt to skip the pain of a court battle, and settle out of court for a tidy sum.
From the outside looking in - who knows! On one hand, tis' the season to be let down by big names in the crypto space.
On the other...it's not like Scott + Scott haven't made some bold (and potentially self serving) accusations in the past.
