Nicholas Palma has fired shots at Kristen Bicknell over her boyfriend’s $500,000 crypto lawsuit. Quasar Mining Group Inc, co-founded by Alex Foxen, was sued for the hefty sum by South African pro Ronit Chamani early last year.
The cryptocurrency mining operation solicited over $2 million worth of investment capital from at least 17 investors and went bust in 2019 leaving them all out of pocket.
Tell this dumb bitch Kristen bicknell to settle that 500k lawsuit the big fox got taking advantage of that poor girl. Fuck outta here. I can confirm he was sued for 500k 😂
— NICKY P 🧙♂️ (@nicholas_palma) November 28, 2021
Nicholas Palma Lays into Kristen Bicknell over $500,000 Lawsuit
The lawsuit accused the outfit of “fraudulent misrepresentations and omissions, breaches of fiduciary duty, and unjust enrichment”, although did not actually name Alex Foxen in the filing.
Alex Foxen was quick to respond, making it clear that Palma did not know what he was talking about and was only interested in deflecting attention from his own transgressions, of which there are many in recent years.
None of it is true. A law suit was filed against a company that I co-founded. I wasn’t named in the suit. The plaintiffs were reprimanded by the judge for filing such a frivolous suit before immediately dismissing it. It was complete nonsense. The company was 100% legit.
— Alex Foxen (@WAFoxen) November 29, 2021
Was Alex Foxen Involved in a Fraudulent Enterprise?
It’s a serious accusation to throw around with such huge numbers at play. Many people invested considerable sums of money and are now crying foul. But what are the facts?
Well-known poker attorney Maurice “Mac” VerStandig was the lawyer brought in by the plaintiffs at the US District Court for the District of Nevada. His initial filing included the following accusation.
“She thought she was investing in a legitimate business; instead, she was bankrolling the portly salaries of two of Quasar’s directors, while one of those same directors repeatedly lied to the SEC about taking such salaries. When the money started to run low, Quasar elected to liquidate.”
Ronit Chamani might have a legitimate claim for wrongdoing but it is clear that Alex Foxen was not one of the main players paying himself a lucrative salary.
His role is said to have been more of an investor himself and to solicit more investment capital from the high-stakes poker community.
It’s tough to say it but when investing in a high-risk start-up everything can collapse with little recourse. A lack of business acumen is not something which can be fought over in court if not deliberate.
Why Did Nicky Palma Bring This Up?
It was actually over a spate of mudslinging directed at Allen “Chainsaw” Kessler that this story was brought up.
Kessler was being attacked over his decision to charge 1.14 markup for a small $3,500 event at the Seminole Hard Rock Poker Open in Florida. Many posters were questioning that he was worth the value.
Nicky Palma popped up and pointed out that Kessler hasn’t cashed for more than $7,500 in years. Once the Chainsaw took offence at being called a scammer Kristen Bicknell made it clear what her thoughts on Palma were.
“He is one very sad case. Puts zero effort to make things right, even with friends who have tried to help him for years. Can confirm he doesn’t pay when cashes or years later!”
And queue the next round of mudslinging over the next few days.
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