Dolce & Gabbana Faces Allegations for Fraud and Market Manipulation in NFT Lawsuit

Fraudulent Scheme Unveiled in Dolce & Gabbana NFT Lawsuit

Allegations of Deliberate Fraud and Deceptive Practices

An amended complaint in the investor lawsuit against Dolce & Gabbana reveals new allegations of deliberate fraud, market manipulation, and deceptive practices in connection with the DGFamily NFT project. The complaint claims that the project was a fraudulent scheme designed to mislead investors from the start.

Fraudulent Intent & Market Manipulation

The amended complaint accuses Dolce & Gabbana of engaging in market manipulation and deliberate fraud. It alleges that the company never intended to deliver the promised benefits to investors and artificially inflated the value of the NFTs.

Securities & Commodities Law Violations

The complaint details how Dolce & Gabbana manipulated the price of the DGFamily NFTs through coordinated purchases and sales, violating securities and commodities laws. The defendants allegedly engaged in manipulative trading practices, creating a false sense of scarcity and demand.

Expanded Timeline of Failures

The amended complaint highlights an extended period of delays, broken promises, and missed deadlines regarding the DGFamily NFTs’ benefits. Despite public promotions by Dolce & Gabbana, investors faced continued dissatisfaction and delays in receiving the promised benefits.

Claims for Punitive Damages & Rescissory Relief

The lawsuit seeks punitive damages and rescissory relief against Dolce & Gabbana for willful, reckless, and malicious behavior. The plaintiff argues that the deliberate nature of the fraud warrants additional financial penalties and the reversal of NFT sales to refund investors.

The case is Brown v. Dolce & Gabbana USA, Inc., et al., 1:24-cv-03807 (SDNY).