SAN JOSE, Calif. (Legal Newsline) — Two Canadian customers have filed a class action lawsuit against PayPal, alleging violation of federal law.
Kingsley Ezeude and Chukwuka Obi of Alberta filed a complaint on behalf of all others similarly situated on May 4, in the U.S. District Court for the Northern District of California San Jose Division against PayPal Inc. and PayPal Holdings Inc., alleging the defendants participated in a Ponzi scheme that affected investors worldwide.
According to the complaint, Ezeude and Obi were damaged financially from investing in Traffic Monsoon, a Ponzi scheme. The plaintiffs allege PayPal defrauded investors, causing financial damages including to the plaintiff.
The plaintiffs seek trial by jury, compensatory damages, all other damages, interest, restitution, disgorgement, court costs and all further relief the court grants. They are represented by attorneys Adam Wolf and Peiffer Rosca Wolf of Abdullah Carr & Kane in San Francisco.
U.S. District Court for the Northern District of California Case San Jose Division number 5:17-cv-02558-HRL