Filing: Melania Trump Memecoin Fraud “Window Dressing”

Wednesday, October 22, 2025

A cryptocurrency promoted in January by US first lady Melania Trump was part of a sophisticated fraud that "leveraged celebrity association and borrowed fame' to sell legitimacy to unsuspecting investors," a new legal filing has alleged.

Posted by Doc_Sarvis at 05:09 AM | 3 COMMENTS | permalink | Comment on This Entry |

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Though the complaint does not allege any wrongdoing on the part of Trump, her family has been criticized heavily for its many and various forays into the crypto industry, which critics have cast as a glaring conflict of interest. The Financial Times recently estimated that the Trump family had earned more than $1 billion from its crypto pursuits in the period since Donald Trump was reelected as US president.

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Further on this mess:

In April, crypto investors brought a federal class action lawsuit against Benjamin Chow, cofounder of crypto exchange Meteora, and Hayden Davis, cofounder of crypto venture capital firm Kelsier Labs, among other defendants, accusing them of a multimillion-dollar fraud involving a single memecoin, $M3M3.

Later, the plaintiffs filed an amended complaint, expanding the allegations to include racketeering activity. They claimed the pair had colluded to rig the market for $LIBRA, a coin promoted by Javier Milei, president of Argentina, which collapsed in value shortly after launch.

On Tuesday, the plaintiffs sought the court's permission to file yet another amended complaint, based on alleged information provided by an anonymous whistleblower. With Chow acting as the "commander," the pair launched, pumped, and dumped at least 15 crypto coins, the proposed second amended complaint alleges, including $MELANIA. The scheme allegedly inflicted millions of dollars in losses on unwitting investors.

Trump, who is not a named defendant in the lawsuit, was used as "window dressing for a crime engineered by Meteora and Kelsier," the proposed second amended complaint alleges. The filing further states that the plaintiffs do not allege that Trump or Milei "operated the scheme."

A-OK, as long as the Queen of Scowl made a bundle.

Gawd, these people.

#1 | Posted by Doc_Sarvis at 2025-10-22 05:45 AM | Reply

"Unwitting investors"

BS.

Should read "stupid f^*%ing morons."

#2 | Posted by jpw at 2025-10-22 08:58 AM | Reply

The US Postal Inspection Service (USPIS) investigates crimes spanning 200 federal laws.

"These types of investigation involve crimes that use the mails to facilitate fraud against consumers, business, and government. Federal statutes that surround these types of investigations include mail fraud and other criminal statutes when they are tied to the mails, such as bank fraud, identity theft, credit card fraud, wire fraud, and Internet/computer fraud. Mail fraud is a statute that is used in prosecuting many white collar crimes, including Ponzi schemes, 419 frauds, and other white collar crimes where the mail was used to facilitate the fraud."

#3 | Posted by C0RI0LANUS at 2025-10-22 01:17 PM | Reply